Industry news / 31 July 2015
ESMA AIFMD Passport Recommendation Places Jersey Strongly
ESMA’s recommendation will now be considered by the EU Commission, Parliament and Council and, if approved, means that Jersey will be able to offer a broad range of options to fund managers targeting both European and global investors.
Meanwhile, Jersey’s current marketing route into Europe via national private placement regimes, which remains popular amongst managers, should remain in place until at least 2018.
Graeme McArthur, CEO of Crestbridge, said:
“Being part of this first wave, which includes only a few jurisdictions, positions Jersey very strongly indeed and reinforces its credentials as a robust, expert and long-term solution for the full spectrum of alternative funds business, including real estate and private equity where Crestbridge has specific expertise. With Jersey’s private placement route into Europe continuing to be actively used, the option of embracing the passport route in due course gives Jersey unique flexibility when it comes to supporting managers’ European and global alternative funds strategies.”