Guernsey Finance hopes to tempt US fund managers and advisers to Guernsey as a domicile for private equity funds business and a gateway to European capital markets.
The move is part of a strategy that will see less reliance on business coming from Guernsey's traditional markets of the UK and Europe. In particular, Guernsey Finance has undertaken a series of meetings in New York with US private equity advisers in order to spread the message in the US that the Island is well equipped to cater for private equity funds business.
Commenting on the trip, Peter Niven, Chief Executive of Guernsey Finance – the promotional agency for the Island’s finance industry, said: “Being able to get the Guernsey private equity message across to these professionals was very useful and needs to be done on a regular basis, particularly as we are now seeing renewed interest from across the Atlantic in what we can offer as a gateway to the European capital markets.
He added: “We were also able to deliver our private equity message to specific investment managers at the Boston conference, as well as meet up with a number of firms who already use Guernsey very successfully and could be a force for good in the US to allow us to attract even more business. There is currently more business being done in the US than elsewhere, so we need to capture it while some of our more historic business introducers are not so buoyant.”
Guernsey Finance and representatives from industry have already been in attendance at SuperReturn International in Berlin earlier this year and will also be present at SuperReturn Asia in Hong Kong in September and SuperReturn Middle East in Dubai in October. SuperInvestor in Paris in November will also see a Guernsey presence.
Mr Niven added: “Our latest fund statistics show that there were a significant number of new fund launches in the first quarter of this year in Guernsey, but it is important that we do not rest on our laurels and simply rely on business coming from our traditional markets of the UK and Europe. It means that attendance at these prominent funds events is important in order for us to keep promoting Guernsey’s experience and expertise in catering for investment funds business, and private equity in particular.”
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