Jersey’s top position as a hub for private equity and venture capital funds was highlighted at the most recent Jersey Finance Funds Focus event held in London on Thursday 23 November.
The event, titled Liquidity and Fundraising in a Challenging Environment, went into detail about the current climate for fundraising and identified some of the challenges managers are facing. Keynote speaker, Michael Moore, Chief Executive of the British Private Equity and Venture Capital Association (BVCA), also provided forward-looking economic and political insights, including on the upcoming UK elections.
Jersey has been at the forefront of the global funds industry for more than 60 years. In that time, it has earned a world-class reputation for the domiciliation, structuring, management and administration of alternative investment fund and special purpose vehicles, with total funds business in Jersey valued at US$645 billion.
Michael Moore, speaking on behalf of the BVCA, highlighted the significance of Jersey for private equity and venture capital. Celebrating the BVCA’s 40th anniversary, he noted the industry’s contribution to the UK economy, supporting 2.2 million jobs and investing £27.5bn into UK businesses in 2022. Acknowledging challenges such as slower growth and high inflation, Moore expressed optimism and discussed the impact of geopolitical divisions worldwide.
Looking ahead to the UK elections he stressed the industry’s need to be prepared for potential changes, emphasising the importance of transparency and understanding with politicians. He underscored the value of cooperation within the broader ecosystem of the UK, Europe and Jersey for the PE and VC industry’s benefit.
Nicola Le Brocq, Jersey Finance’s, London based Director, praised Jersey’s role as a specialist centre for funds and discussed the evolving landscape amidst regulatory changes, the growing influence of ESG and digital factors, banking sector disruptions, and a high interest rate environment. She emphasised Jersey’s innovation citing the success of the Jersey Private Fund and the recent addition of the LLC to the legislative framework, appealing to the US market.
As well as Nicola and Michael, other speakers at the event included: Aleksander Bakic, Investment Funds Partner at Kirkland & Ellis International LLP; Tim Morgan, Partner at Maples Group; Kate Simpson, Legal Counsel (Director of Transactions) at Glendower Capita; and Jennifer Wall, Partner, Private Equity and Private Client Services at BDO.
