Guernsey praised for rapid fund launch

03 April 2019

A private equity fund manager has praised Guernsey and the island’s infrastructure which has helped with the launch of its first Private Investment Fund (PIF).

Apse Capital, a new independent European private equity group, is focusing on buyout and development capital opportunities in European tech-enabled information and services businesses.

Apse Capital Bridge Fund LP, the group's first private equity fund, has been established under Guernsey’s PIF regime which offers an expedited route to market for eligible funds and provides fund managers with greater flexibility and simplicity.

“The fund was launched in under three weeks, including securing the regulatory approvals. This is testament to Guernsey’s favourable regulatory environment for private equity funds, as well as the dedication of the professionals at Northern Trust [the fund’s administrators] and that of legal advisers, Carey Olsen in Guernsey and Weil, Gotshal & Manges in London,” said Ashley Long, Partner at Apse Capital.

"The fund was launched in under three weeks, including securing the regulatory approvals. This is testament to Guernsey’s favourable regulatory environment for private equity funds."
Ashley Long, Partner, Apse Capital

Dave Sauvarin, country head, Channel Islands, Northern Trust, said: “This successful launch illustrates Guernsey’s flexible and proportionate regulation allowing fund managers to access markets quickly, enabling them to respond to competitive global opportunities. The PIF is just part of the tool box of solutions for alternative fund managers looking to domicile funds in Guernsey.”

Christopher Anderson, Partner at Carey Olsen, added: “This innovative and flexible Guernsey structure significantly reduces the cost and processing time for launching a fund."

Download Find a related practitioner