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The number of private funds being established in the Cayman Islands has continued to rise. This sector proved to be resilient and flexible as it swiftly adapted to a new regulatory regime and turned the additional oversight into an advantage.
“The growth of private funds is a function of the Cayman Islands’ well-respected legislative and regulatory framework, tax neutral status and local knowledge base,” outlines Richard Gordon, managing director – Cayman, Ocorian. “In addition, the enhanced private funds regulatory regime seems to be having a positive effect. It is providing investors with greater comfort by implementing supervisory oversight and increasing transparency into
Despite an unprecedented number of new regulations being introduced into the Cayman Islands over the past 18 months, the jurisdiction has shown itself to be remarkably resilient, with the Islands’ funds industry in particular rising to the challenge and demonstrating its adaptability and flexibility.
In this article, leading offshore legal services firm Appleby, discusses some of the key regulatory changes in Cayman and explains how it has pivoted its own service offerings to respond to these challenges and to ensure the firm continues to meet client demands.
In 2020 the Cayman Islands introduced several regulatory developments, including the Private Funds
By Jude Scott, CEO, Cayman Finance – As the unprecedented year that has been 2020 draws to a close, we can look to the year ahead with some optimism. That’s in part due to the resilience of the Cayman Islands financial services industry, which continues to meet evolving global best practices.
Our jurisdiction has been recognised by the European Union as a cooperative jurisdiction on all criteria for tax transparency and fair taxation. This should provide some comfort to investors who are increasingly engaged in a flight to quality, relocating their resources based on extensive assessments of which financial centres
By A Paris – In what has been a rollercoaster year from all perspectives, 2020 saw the Cayman Islands being first placed on the European Union blacklist in February, followed by its removal from said list in October, after it made improvements to its tax framework.
The jurisdiction, best known as a domicile of choice for hedge funds and alternative investments, has introduced a spectacular 19 new pieces of legislation in its steadfast endeavour to strengthen oversight and ensure the Cayman Islands industry is aligned with global standards.
Elemental to Cayman’s removal from the EU blacklist was the enhancement of its framework
By Jude Scott, Cayman Finance – In August 1864, 900 miles almost due North of the Cayman Islands, US Navy Rear Admiral David Farragut faced a pivotal moment. Leading a squadron charged with attacking Confederate forces in Mobile Bay, Alabama, Farragut’s flotilla encountered tethered mines known then as “torpedoes” which ultimately threatened his mission and his men. Acting decisively to navigate around the threat and pursue his objective, Farragut uttered the phrase that has now passed into military lore: “Damn the torpedoes! Full steam ahead!”
Leaders in every walk of life will meet challenges that could distract their focus, diminish
Wallbox has closed a EUR33 million financing round to help propel the company’s expansion into new markets and meet global demand for its award-winning Electric Vehicle charging solutions.
The investment is the latest endorsement of Wallbox’s proprietary technology and support for its mission to reduce the world’s dependence on fossil fuels. The round was led by new investors Cathay Innovation and WIND Ventures with participation from existing investors Iberdrola and Seaya Ventures, and others.
The new funds will finance strategic growth initiatives including the opening of new offices globally, expansion of manufacturing and R&D facilities and the hiring of more
Thorntons Investment Management Limited has been provided with funding to support the acquisitions of Matheson Financial Consulting Limited and Sonas Wealth Management Limited by leading alternative finance provider for mid-sized SMEs, ThinCats.
Thorntons Investment Management is an Independent Financial Advisor providing a range of wealth and asset management services to high net worth individuals and corporate clients, specialising in investment management and wealth planning.
The company was set up in 1995 and today has significant Assets Under Management. Thorntons has offices in both Dundee and Edinburgh, with the acquisition of Matheson Financial Consulting seeing their services extend to Aberdeen.
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International law firm RPC has appointed corporate lawyer Connor Cahalane as a partner.
Cahalane joins a rapidly expanding Commercial practice which has added six new partners in the last eight months, having recently hired Tom Purton as well as internally promoted Henry Priestley, Chris Brierley, Ben Roberts and Andrew Carpenter to partner last year.
Cahalane will be joining RPC’s top-ranked corporate team, which is part of the firm’s Commercial practice, and is recognised as one of the leading and most comprehensive Commercial practices in the City, spanning the firm’s sector focus on retail, technology, media and insurance. Connor’s hire
Reckitt Benckiser’s (RB) venture division has led a GBP4 million funding round in India-based Bombay Shaving Company (BSC).
With a mission to make high-quality health, hygiene and nutrition accessible to all, RB’s venture arm is partnering with early-stage start-ups who share its ‘fight for access’.
Launched in 2016, BSC has a portfolio of over 100 products across shaving, bath and body, skin, and beard care. RB’s investment will support the company’s plans to scale its operations and provide BSC with access to RB’s global scale, expertise and mentorship, helping to grow the start-up as the leaders in men’s wellness.
Arjun
Palatine, a mid-market private equity firm, has appointed Tim Crowley as Director of Investor Relations.
He will work alongside Gary Tipper, Palatine’s Managing Partner, and the business’ senior management team to support current investors and develop relationships with new Limited Partners.
Crowley’s remit will include both of Palatine’s current funds: the Buy-Out Fund which invests between GBP10 million to GBP30 million in high-growth mid-market companies with strong management teams; and the Impact Fund, which invests up to GBP10 million in innovative, profitable businesses that can create a clear positive impact on society or the environment.
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