Jersey Finance launches New York office
Jersey Finance has formally opened its new office in New York as the jurisdiction looks to enhance its visibility in the US and promote its proposition as a gateway to Europe for US alternative fund managers.
The office was officially launched at an event held at The Peninsula New York on 16 October, attended by around 100 lawyers, intermediaries and other US fund professionals, who heard from Senator Ian Gorst, Minister for External Relations for the Government of Jersey, and Joe Moynihan, CEO of Jersey Finance, about Jersey’s growing ties with the US.
The launch of the office comes after Jersey Finance announced the appointment in July of Philip Pirecki (pictured) as its 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.
Pirecki 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.
The new office is located at Jersey Finance Limited, Suite 341, 1185 Avenue of the Americas, New York.
Moynihan says: “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.”
Gorst adds: “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.”
Pirecki says: “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.”