Jersey improves its already appealing Jersey Private Funds regime
Jersey has significantly upgraded its Jersey Private Fund (JPF) framework, marking a pivotal shift implemented on 6 August 2025. These enhancements, introduced via a revised JPF Guide and a new statutory instrument, the Collective Investment Funds (Jersey Private Funds) Order 2025, introduce broader eligibility, scalability, and flexibility for fund managers.
Andrew Pinel
Partner
1. Removal of the 50-Investor Cap
Previously, a JPF could only involve up to 50 investors or offers. That restriction has now been removed, provided the fund is marketed solely to a clearly defined "restricted group" of investors, ensuring the fund remains private.
2. Broadened Definition of Professional Investor
Jersey has expanded the definition of “professional investor” to include:
UK FCA professional clients
US accredited investors as per SEC Regulation D Rule 501
This adjustment aligns Jersey’s framework with prominent global markets and simplifies cross-border capital raising.
3. Accelerated 24-Hour Authorisation
Applications for JPFs submitted by registered Designated Service Providers (DSPs), meeting all requirements, will now be processed within 24 hours, sharpening Jersey’s competitive edge.
4. Listing Interests Now Permitted
For the first time, JPFs can seek JFSC approval to list their interests, typically allowing for technical listings or private placements without public trading, enhancing liquidity options.
5. Regulatory Interaction and Conversion Pathways
Existing JPFs established before 6 August 2025 remain under legacy terms, including the 50‑investor cap, unless they apply for revised COBO consent via a material change application.
Existing Collective Investment Funds (CIFs) can elect to convert to JPF status, provided they meet eligibility criteria, and must surrender their CIF certificate accordingly.
6. Context & Strategic Rationale
These reforms form part of Jersey’s broader Competitiveness Programme, co-developed by the Government, the JFSC, and industry bodies. The goal is to maintain Jersey’s status as a premier international finance centre, particularly for private equity, venture capital, and real assets.