Growing need for cross-jurisdictional support
Ogier: Best Offshore Law Firm – The continued growth of global regulations will continue to have an impact on every aspect of the investment funds industry, including the Cayman Islands as a jurisdiction. In this environment of rising regulation investment managers are increasingly looking to law firms like Ogier to provide them with support and help bring consistency across jurisdictions.
“Clients need our assistance not only on Cayman Islands regulatory matters. They are also looking for cross-jurisdictional support from our other offices in Luxembourg and the Channel Islands, as well as our BVI and HK teams,” says James Bergstrom, Ogier’s Global Head of Funds and the principal architect of the firm’s Cayman funds practice, “In addition to our cross-jurisdictional support, our institutional clients rely on our broader advisory services to complement our investment funds advice – such as in fund finance, corporate restructuring and insolvency matters.”
Ogier’s investments funds team advises on the full spectrum of fund structures and strategies, including:- hedge, private equity, real estate, infrastructure, energy, credit, debt, venture capital, crypto currency, hybrid, impact and socially responsible investing.
This has been an outstanding year of growth for Ogier. Bergstrom highlights: “As one of the leading Cayman Islands law firms with a long established investment funds practice, our team has had great success working with clients to address the requirements arising from the recent changes to the registration regime for investment funds, through proactive and diligent engagement with legislators, regulators and industry bodies.”
The firm’s strong regulatory expertise was at the forefront of its activity through 2020. The team continued to place great emphasis on its work guiding clients through the shifting regulatory landscape.
Bergstrom elaborates: “The introduction by the Cayman Islands in 2020 of a registration regime for closed-ended funds as well as the expansion of the registration regime for open-ended funds has provided managers and investors with additional protection and transparency.
“Other recent legislative amendments have strengthened the anti-money laundering and terrorism financing laws, introduced data protection measures and enhanced tax transparency. These developments are all helping to safeguard the reputation of the Cayman Islands as the leading jurisdiction for investment funds.”
Additionally, the sustainability agenda is now touching every element of industry and commerce. As a result, there is increased demand in the hedge fund industry for initiatives and innovation at every level. Bergstrom comments: “Ogier is the first offshore law firm to establish a dedicated Sustainable Investing and Impact Funds practice, led by partner and Head of ESG Funds Kate Hodson. The firm is committed to providing thought leadership in this area. We are excited to see the continued adoption of ESG initiatives by the investment funds industry.”
Looking ahead, Ogier aims to continue providing clients with agile and responsive support in an increasingly challenging regulatory environment. “Our objective is to cut through complexity to provide tailored, practical solutions for all our clients legal and compliance needs,” Bergstrom notes.
Justin is a partner in Ogier’s Investment Funds team, based in Ogier’s Cayman Islands office. He specialises in the establishment of open-ended and closed-ended hedge funds and advises on a wide range of structuring, formation, regulatory, corporate governance and ongoing operational matters. Justin is a part of Ogier’s multi-disciplinary Private Equity team and also has significant experience advising companies, prospective investors and shareholders on a broad range of cross-jurisdictional corporate matters, including public and private M&A, restructurings and joint ventures.