Jersey Finance has formally opened our new office in New York, as we look to enhance Jersey’s visibility in the US, and to promote our proposition as a gateway to Europe for US alternative fund managers.
Our office was officially launched at an event held at The Peninsula New York last week. It was attended by around 100 lawyers, intermediaries and other US fund professionals. They heard from Senator Ian Gorst, Minister for External Relations for the Government of Jersey, and our CEO, Joe Moynihan, about Jersey’s growing ties with the US.
The launch of the office comes after we announced the appointment in July of Philip Pirecki as our business development lead in the US. Philip also spoke at the event to highlight how Jersey is well placed as a specialist funds centre to support US private equity, real estate and hedge fund managers, by providing seamless access to European investor capital.
Philip has more than 20 years of professional experience, spanning investment banking, investment management, consulting, auditing and accounting, with a particularly deep knowledge of the hedge fund sector.
Our new office is located at Jersey Finance Limited, Suite 341, 1185 Avenue of the Americas, New York.
Commenting on the launch, Joe Moynihan said: “As a forward-thinking jurisdiction, we remain committed to supporting high-quality global investment flows and, to that end, the launch of this office in the world’s largest institutional investment market is hugely significant for us.
“We strongly believe that Jersey offers a compelling proposition for US managers who are seeking a stable, reliable platform to support their European strategies. We already have good familiarity among the US funds community, with the value of US promoter assets administered in Jersey more than doubling over the past five years, and our new office will be vital in building on that success.”
Senator Ian Gorst added: “Jersey has an extremely positive relationship with the US, with a rich history of trade and cooperation, and growing business ties. This new office represents a significant milestone in our friendship, cementing that relationship further, as we look to work closely together for our mutual future success.”
Philip Pirecki commented: “Being outside of the EU but within the European time-zone, Jersey offers a straightforward, efficient option for US managers, backed up by decades of experience in alternatives, a world-class regulatory framework and an impressive range of structures. As highlighted at our event, this new office represents a really exciting development for Jersey, but also a fantastic opportunity for US managers with European ambitions.”
The number of managers accessing EU investor capital through Jersey’s private placement regime grew to more than 172 at the midway point in 2019, according to the Jersey Financial Services Commission. Meanwhile, Monterey Insight figures show that the number of US-based promoters has grown by 164% over the past five years.
Further information on Jersey’s credentials as a gateway to Europe for US fund managers, including some case studies, is available in our US factsheet.