Finance officials in Jersey welcome adaptations to the Jersey Private Fund (JPF) regulatory framework
The Jersey government has announced an update to the Jersey Private Fund (JPF) regime, effective from 6 August 2025. These changes aim to create a proportionate, risk-based regime that safeguards quality while supporting innovation and responding to specific market needs for scalability, speed to market, and optionality.
The JPF regime remains a strong solution for the global market, offering efficient, streamlined, and proportionate regulation for private investment funds, particularly well-suited to private equity, venture capital, and real asset strategies.
Key updates to the JPF regime include the removal of the 50-offer/investor cap, allowing funds to have unlimited offers or investors provided they market only to a restricted group of professional or eligible investors. The definition of professional investor has also been expanded, broadening eligibility and access to the regime.
Jersey Private Funds can now apply to the Jersey Financial Services Commission (JFSC) for consent to list their interests, subject to JFSC approval, enabling increased liquidity options for investors. A 24-hour authorisation process for JPF applications submitted by registered Designated Service Providers has been introduced, vastly speeding up fund launch times.
These changes collectively enhance the flexibility, accessibility, speed to market, and operational efficiency of JPFs, aligning Jersey’s private fund offering more closely with the needs of international professional investors and global market practices.
Benefits for alternative fund investors include access to a broader range of investment opportunities without artificial limits on capital raising or the number of investors. Increased confidence due to the regulated nature of JPFs combined with streamlined procedures that support faster fund deployment is another advantage. Greater liquidity potential through permitted listing of fund interests and more efficient, simpler, and faster fund authorisation, reducing delays and costs associated with fund launches, are additional benefits.
Overall, these updates reinforce Jersey’s position as a competitive, investor-friendly jurisdiction for alternative funds by modernizing the regime in line with global industry expectations and improving the fundraising and investment experience for professional investors.
Joel Hernandez, chair of the Jersey Funds Association, welcomed the continued commitment to refine and strengthen the JPF regime. Joe Moynihan, CEO of Jersey Finance, commented on the updates, stating they will further increase Jersey’s appeal to managers and professional investors seeking flexible fund solutions.
The new JPF Guide, published by the JFSC, broadens the definitions of a "professional investor" that are eligible to invest in a JPF. The number of offers and investors a JPF can have is no longer capped, provided the offer is made to a "restricted group" of investors and each investor is a "professional investor" under the JPF guide. A 24-hour turnaround has been introduced for JPF consents, enhancing Jersey’s speed-to-market advantage.
Since 2017, more than 750 Jersey Private Funds (JPFs) have been launched, demonstrating the regime's success. The updates aim to align Jersey's offering with global investor, manager, and fund promoter expectations while maintaining robust regulatory standards. The JFA believes the improved flexibility, accessibility, and simplicity to launch will enhance the regime's effectiveness.
These updates come after a period of industry consultation and aim to maintain Jersey's status as a preferred domicile for private funds and their managers worldwide. The revised JPF Guide will come into effect on 6 August 2025.
Investors can now benefit from increased flexibility in Jersey Private Funds (JPFs) as the number of offers and investors is no longer capped, provided they are within a restricted group of professional or eligible investors. This change aligns JPFs with global market practices and enhances their appeal to global managers and professional investors seeking flexible fund solutions.
The extended definition of professional investors in the new JPF Guide allows for a broader range of investors to access unlimited investment opportunities offered by JPFs, reflecting Jersey's ongoing commitment to retain its standing as a competitive, investor-friendly jurisdiction for alternative funds.
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