Following the introduction of the streamlined regulatory regime in Jersey at the end of last month, the first fund is now launched investing in European real estate.
The fund, which primarily invests in smaller structured co-investments in real estate projects and real estate related operating companies throuhout Europe, aims to raise £150m.
Law firm Bedell Cristin has acted on the establishment of the first Private Placement Fund in Jersey. The legal team was headed by Bedell Partner, Martin Paul, assisted by Associate, Heather Hiram.
Commenting on the launch, Martin Paul said:‘The Private Placement Fund offering provides a new streamlined regulatory regime for the approval of closed ended funds which are privately placed with up to 50 sophisticated investors.
"We are pleased to have been able to act for the first such fund to be established within only a few weeks of the regulations being in place. Jersey was already a successful jurisdiction for the fund’s promoter, a leading real estate fund manager, and the Private Placement Fund regime has made Jersey an even more attractive option and was the ideal vehicle for launching their latest specialist real estate fund.’
View from the front row
Project Libra unveiled
Including SJP and investment trusts
Spent two years at Sanlam
Will also assess FCA's actions