Ipes Guernsey has been regulated by the Guernsey Financial Services Commission (GFSC) as one of the first operators of a Guernsey Alternative Investment Fund (AIF) depositary.
The new depositary in Guernsey will enable funds domiciled in the island to market their funds in Europe under the Alternative Investment Fund Managers Directive (AIFMD) regulations.
In 2013 Ipes launched its depositary service from London to support clients and fund managers in meeting the new AIFMD requirements.
In the last 18 months Ipes has doubled the size of its London team through the expansion of its depositary service. It now acts for 118 alternative investment funds, representing USD49 billion of commitments for 25 private equity clients. Until now only funds domiciled in the UK have benefitted from this service.
Andrew Whittaker, managing director of Ipes Guernsey, says: “Having a Depositary in Guernsey is crucial for our clients to market their Funds in Europe. With the Guernsey AIFMD dual regime in place, Ipes is well placed to deliver a Depositary service. Guernsey is a private equity (PE) jurisdiction of choice. Our establishment of a PE AIF Depositary in the island is in response to client demand.”
