Jersey launches private placement scheme

The new scheme is similar in scope to the Control of Borrowing Order (COBO). It is available now, and will be run alongside the existing COBO.

Funds within the scheme will be closed ended and restricted to 50 professional investors, with a minimum investment or commitment level of £250,000 or equivalent currency. Jersey offers a fast-track approval process, which it claims can be completed within three business days.

Nigel Strachan, chairman of the Jersey Funds Association, commented that the scheme is suitable for various alternative asset classes, including private equity and mezzanine.

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