An update on Private Investment Funds regime
Rhea Hood, Director, CRM - EMEA
The Guernsey Fund’s industry welcomes a new regime recently launched by the Guernsey Financial Services Commission (the “GFSC”), the Private Investment Fund (“PIF”) regime.
The PIF regime is aimed to bridge the gap between institutional funds and completely private structures in circumstances where the management and investors of a structure are deemed to have a close relationship.
The PIF regime removes the requirement for formal information particulars such as a prospectus, on the basis the relationship is of a close nature. This change is likely to result in a significant cost saving for these types of structures and should reduce the launch timetable.