21 November 2018
Jersey funds choosing Carey Olsen according to new industry research
Carey Olsen has experienced the largest growth of any Jersey law firm in the number of investment funds it advises, according to Monterey Insight's 2018 Jersey Fund Report.
The 24th edition of the annual report, which provides a comprehensive analysis of all funds domiciled, serviced or distributed in Jersey reported that Carey Olsen now provided legal advice to 670 such funds at the end of June 2018 – an increase of 162 (31.9%) over the year. Significantly, no other Jersey law firm saw a bigger increase than 15 from the previous year.
In addition, for non-permit funds serviced and domiciled in Jersey, which includes all Jersey funds established under the new Jersey Private Funds regime, Carey Olsen advises 48.5% (US$ 8.3 billion) of the entire Jersey market by AUM. This is comfortably more than double the assets of the next nearest Jersey law firm.
Robert Milner, a partner in Carey Olsen's Jersey investment funds team, said: "The latest findings from Monterey Insight once again evidence our position as the go-to legal adviser in Jersey for new investment funds business. The strength and size of our team means we can provide bespoke services to institutional mega-funds, start-up managers and everyone in between. Our partners love to get directly involved whenever new structures, laws or regulations are on the horizon and the insight this provides is key to developing the client relationships that have been the engine of our growth."
The impressive results follow a number of recent high-profile fund assignments for the Carey Olsen team that include advising Epiris on the launch and final closing of its UK-focussed buyout fund, Epiris Fund II, at £821 million; supporting Capvis on the final closing of Capvis Equity V LP at just under €1.2 billion, and advising Nordic Capital on the €4.3 billion final closing of Nordic Capital Fund IX.
When combined with findings from Monterey Insight's Guernsey Fund Report, Carey Olsen is the leading adviser to funds domiciled and serviced across the Channel Islands. In total, the firm advises more than 1,400 funds across Guernsey and Jersey – nearly 50% more than its nearest competitor.