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Domiciles

JFSC to develop shared KYC tool

The shared tool enables users to verify customers’ identities

Guernsey introduces fund migration regs

The Limited Partnerships (Migration) Regulations 2020 allows limited partnerships to relocate to Guernsey quickly and easily

Domicile watch: July 2020

Key takeaways from the major PE domiciles: including how Luxembourg, Guernsey and Jersey are adjusting their practices as Covid-19 country lockdowns are eased while Cayman highlights a fraudulent due diligence email being circulated

Jersey expects increased fund migration following new LP rules

The amendment makes it easier for managers to migrate structures from elsewhere in a quick, cost-effective manner.

DMS Group acquires Oligo

The acquisition enhances DMS’ European product offering to provide Swiss fund services and bespoke solutions to clients

Hong Kong passes Limited Partnership fund regime

The new bill "makes impressive strides" in attracting investment funds, including private equity and venture capital

Jersey seeks feedback on LP continuance fees

The proposed fees will only affect foreign limited partnerships wanting to migrate to Jersey

Jersey’s PE funds increase by 11%

Latest figures show private equity assets serviced in Jersey increased from £136bn to £150.5bn in Q1 2020

Jersey increases fund fees

The new rates form part of the regulator’s 2020 business plan

Guernsey launches fast-track licencing for overseas funds

The regime aims to enable simultaneous consideration of a migration into the Bailiwick of Guernsey and licencing of the manager within a 10-day period

Domicile watch: June 2020

Key takeaways from the major PE domiciles: including how Luxembourg, Guernsey and Jersey are adjusting their practices as Covid-19 country lockdowns are eased while Cayman highlights a fraudulent due diligence email being circulated

Comment: A decade of fund finance in Luxembourg

More competition plus an increasingly complex regulatory environment requires greater sophistication and specific LPA provisions, writes Wildgen's Michael Mbayi

Apex expands Throgmorton in Switzerland

The new office provides accounting and tax compliance services, company secretarial and governance as well as payroll services to businesses operating locally

Guernsey launches guidance on green PE principles

The aim is to bring climate risks and resilience into the heart of private equity decision making

Domicile watch

A round-up of key takeaways from major PE fund domiciles, including a Jersey Finance survey, ESG and climate change initiatives as well as regulatory updates

Palatine-backed SMP buys RBC’s corporate services HK

As part of the deal, RBC’s clients and employees of this division will transfer to SMP

CSC expands fund services into Ireland

The firm was granted a licence to provide its offering there by the Central Bank of Ireland

COVID-19: Economic substance adjustments

Could temporary measures drive global consensus on economic substance requirements?

The Profile: Stephen Richmond, CFO Abris Capital

Stephen Richmond tracks his journey from investment director to CFO, and the nuances of operating funds in central and eastern Europe

Cyprus’ total AUM reaches €6.8bn

The total increased from €5.7bn in 2018 and was dramatically up from €2.9bn in 2017

Jersey PE and VC funds increase by 19%

These Jersey Finance figures are for the year ended December 2019

Jersey fund AUM swells by 17%

Fund assets serviced on the island grew to $481.2bn in 2019

EU blacklists Cayman Islands

Cayman Islands was listed on the Annex II alongside Palau, Panama and the Seychelles as the latest domiciles to not implement tax reforms they had committed to by the agreed deadline

Luxembourg saw fund growth in 2019

Luxembourg’s AUM now totals €4.7trn

PE funds most popular product for Guernsey in 2019

Findings come from Monterey Insight’s 25th Guernsey Fund Report, and account for the year to the end of June 2019

Parallel universe: lure of the Cayman-Lux

Ogier partners Joanne Huckle and Anne-Gaëlle Delabye predict a rise in Luxembourg-Cayman parallel fund structures

The Profile: Jason Howard, Headway Capital

Headway’s CFO Jason Howard looks back at the important lessons learned throughout his career, which now act as intrinsic guides for his current role, where meeting the needs of clients is key.

Craic on

Reforms to Ireland’s LP structure will likely be legislated in early 2020, however, after years of promises, what will actually be legislated and will PE care?

Lithuania seeks to attract fund managers

Recent regulatory amendments aim to position the country as an attractive domicile

Romania approves New AIF Law

Updated law better aligns Romania with recent EU developments

Crestbridge granted Luxembourg licence

New licence adds to existing offerings in UK, Jersey, Bahrain and Cayman

Luxembourg’s AUM increased 20% year-to-year

Figure comes from ALFI's latest 2018 Luxembourg Private Equity and Venture Capital Investment Funds Survey

Guernsey home to Permira’s latest fund

Permira has had a long association with Guernsey

Fund structures are so last season

As new waves of regulation continue to hit private equity, managers are quietly shifting to the peaceful waters of deal-by-deal investing

Ocorian granted Luxembourg licence

The firm can act as a depositary to AIFs

Guernsey private equity funds surpass £100bn NAV

Total assets of Guernsey PE funds grew by more than £25bn last year