First funds launched under new Jersey regime

Aztec Group has established the first Jersey Private Funds since the regime launched on April 18.

The first is a private equity fund, and the second a co-investment real estate fund targeting investments in the UK private rented sector.

The fund and corporate services provider has also converted three funds that were structured under one of the preceding regimes – Very Private Fund – to JPFs.

The JPF rationalises and consolidates Jersey’s previous three private fund regimes. It has a 48-hour authorization process and allows the fund to make up to 50 offers to LPs who qualify as professional investors. Previous Jersey funds only allowed offers to up to 15 LPs.

Aztec Group administers more than 270 funds for private equity, real assets and debt fund managers. It has offices in jurisdictions across Europe including Guernsey, Jersey and the UK.