Despite difficult market conditions, the number of private equity funds – structured almost exclusively as limited partnerships – established in, or operated from, Jersey has seen a marked increase in the first three quarters of 2003. As with many other sectors in the financial services industry, the appetite for private equity investment is, once again, on the increase and the number of fund closings witnessed in 2003 is further evidence of investor confidence returning to the market. Further growth recovery is anticipated in 2004.
Private equity service providers, whether law firms, accountancy firms, banks or trust companies specialising in fund administration, are showing a great level of commitment to the development of the sector in Jersey. The increasingly commercial approach being taken by the Jersey Financial Services Commission (JFSC) to new structures being established and administered on the island has also had a significant impact on the level of new private equity promoters choosing to come to Jersey.
