Law firm Bedell Cristin has acted on the establishment of the first Private Placement Fund in Jersey following the introduction of the streamlined regulatory regime at the end of last month.
The fund, which invests in European real estate, primarily smaller structured co-investments in real estate projects and real estate related operating companies aims to raise GBP150 million. It is the promoter’s third Jersey investment vehicle and is designed to provide investors with diversified exposure to smaller European real estate assets.
The legal team was headed by Bedell Partner Martin Paul (pictured) assisted by Associate Heather Hiram.
‘The Private Placement Fund offering provides a new streamlined regulatory regime for the approval of closed ended funds which are privately placed with up to 50 sophisticated investors,” says Pual. “We are pleased to have been able to act for the first such fund to be established within only a few weeks of the regulations being in place. Jersey was already a successful jurisdiction for the fund’s promoter, a leading real estate fund manager, and the Private Placement Fund regime has made Jersey an even more attractive option and was the ideal vehicle for launching their latest specialist real estate fund.’