The value of private equity business in Guernsey reached its highest-ever level at the end of September 2018, according to the latest fund statistics from the Guernsey Financial Services Commission.
The island’s regulator confirmed that the net asset value of private equity funds in the island passed GBP120 billion for the first time in Q3 2018.
According to one of Guernsey’s leading funds lawyers, Ogier Partner Craig Cordle, this success is down to Guernsey’s ability to offer a good-value, high-quality, pragmatic service in an era when general partners are being increasingly asked to cover a greater share of launch costs.
Those qualities will be showcased as Guernsey Finance hosts its milestone 10th Guernsey Funds Forum in London on Thursday 16 May. Along with fellow law firm Carey Olsen, Ogier is a Diamond Sponsor of the event.
“We continue to see strong inflows on new managers establishing structures here, taking advantage of City-experienced legal advisers, regulatory optionality and the ability to get transactions completed on time,” Cordle says. “Traditional private equity has broadened demonstrably over the short term – private equity means something different to everyone, but the mechanics and structuring remain largely unchanged – this is where Guernsey is at its best.”
“Guernsey continues to provide a quietly-assured, cost-effective service to new and existing clients. Tax neutral jurisdictions, like Guernsey, which facilitate collective investment are imperative for the proper functioning of the financial markets.”
“When GPs are being asked increasingly to cover a greater share of launch costs, Guernsey can offer a good value, high quality, pragmatic service.”
The focus of the 10th Guernsey Funds Forum will be on green & sustainable finance (including the green & sustainable imperative; the role of financial services in achieving the UN Sustainable Development Goals; Guernsey’s ambitions in this space and; the world’s first regulated green investment fund product) and structuring private capital (including the rising influence of family offices and private capital in private equity; the use of ‘deal-by-deal’ and ‘single investor’ opportunities; the disintermediation of private equity firms and; how to attract family offices and private capital.
Guernsey Finance Chief Executive Dominic Wheatley says: “Guernsey has a strong private equity offering and this is demonstrated in this record figure for the island. We are also showing leadership in the area of green and sustainable finance as the island demonstrates that it can develop products and solutions to respond to real-world issues. I am looking forward to discussing all this and more at this year’s Guernsey Funds Forum. We are proud to have reached 10 years of our flagship event.”
