A Jersey Private Fund (JPF) is a lightly regulated, highly flexible and cost-effective fund structure. Benefitting from a quick-to-market regulatory authorisation process, the JPF is highly versatile in the ways in which it can be structured and operated.
Since the launch of the product in 2017, more than 750 JPFs have been established – a number that continues to grow. Building on this success, a series of targeted enhancements were introduced to the JPF regime, effective August 2025, which have helped to ensure Jersey’s offering continues to meet the evolving needs of global investors, managers and fund promoters, while maintaining robust oversight and regulatory standards.
Key features of a Jersey Private Fund
- The rules governing a JPF are set out in the JPF Guide published by the Jersey Financial Services Commission (JFSC), Jersey’s regulator.
- Unlimited offers and/or investors.
- Suitable for ‘professional’ or ‘eligible’ investors as defined within the JPF Guide.
- Fast-track 24-hour regulatory approval.
- Can be open or closed-ended.
- Can be established as an Alternative Investment Fund (AIF) under Jersey’s AIFMD regime to allow marketing into the UK or EU/EEA.
- No requirement to produce an offering document (if marketed into the EU, however, this may be required under the applicable sections of the AIF code of practice).
- The promoter does not require prior approval from the JFSC.
- Can take any legal form (i.e. a company, partnership, or unit trust).
- A JPF must appoint a designated service provider (DSP) in Jersey – Hawksford is fully licensed to act as DSP.
- A JPF must also appoint an anti-money laundering service provider (AMLSP) – Hawksford is fully licensed to act as AMLSP.
- Consent is required under the Control of Borrowing (Jersey) 1958 Order (CoBo).
- May be listed, including technical or private placement listings, subject to JFSC consent.
- No requirement to appoint an auditor.
The appeal of the Jersey Private Fund
Due to its unique qualities, a JPF is the go-to choice for a broad spectrum of clients and their investors.
These include:
- Institutional investors and managers.
- Alternatives, private equity and venture capital.
- Family offices and family co-investment vehicles.
- High net worth investment syndicates and club deals.
- New to market managers.
The nimble nature of the structure means the JPF can provide easy access to European investors through the tried and tested national private placement regimes (NPPRs), if marketing into the European Economic Area (EEA) is desired. It’s worth noting that an offer document is required where the JPF is established as an AIF.
Where a manager is appointed to act for a JPF, the regime is again highly flexible. This makes JPFs highly effective for new managers where track record is limited.
Where the manager or advisor is established in Jersey, it is ordinarily able to avail of exemptions which mean that it will not be required to obtain a license or permit from the JFSC.
A cost-effective solution
Much of the JPF’s success stems from its flexibility, which has now been further enhanced by widening the categories of investors that are eligible to invest in a JPF.
The removal of some of the usual regulatory burden allows for a lighter touch regulatory environment, resulting in a streamlined product that can be quick to set up, while still having the Jersey hallmark of quality.
The resultant cost efficiencies are obvious, even more so when coupled with the fact that non-EU managers raising funds in Europe can utilise NPPR’s thereby minimising the regulatory impact of AIFMD.
The designated service provider (DSP)
A JPF must appoint a DSP. Regulations require that the DSP must be licensed and physically present in Jersey. The DSP must confirm that the JPF meets the requirements contained within the JPF Guide – both on application and on an annual basis. The DSP is also responsible for completion and submission of the fund application and ensuring that all necessary due diligence and AML requirements are met.
How can we help?
Hawksford is fully licensed to act as a DSP and can assist with the establishment and ongoing administration of JPFs. Our specialist and experienced team provide a comprehensive range of administration and support services tailored to the requirements of our clients and their investors.
Applying a rigorous, technical and dynamic service, we are particularly well known for our strength in the administration of real estate, private equity, venture capital and other alternative asset classes.
Our dedicated funds team build effective working relationships through proactive and transparent communication, client-centric service delivery and a flexible, personable approach.
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