JP Morgan Establishes Private Equity Base In Jersey
JPMorgan Private Equity Fund Services, as part of its international expansion
efforts, has announced that it has established a presence in Jersey in the Channel
Islands to service existing and new offshore clients.
With the launch of this new European hub, JPMorgan says that it is well positioned
as a full service administrator for private equity firms and institutional limited
partners in Europe. It is one of the only private equity administrators in the
UK and the Channel Islands that can offer a range of banking services, including
cash management and foreign exchange, as well as tax support services to its
administration clients. The Jersey operation will provide fund administration for private equity, real
estate and infrastructure firms, as well as alternative investment portfolio
administration for institutional limited partners. Jersey is a prime location for European private equity. Assets under management
in private equity and real estate funds domiciled and/or administered in Jersey
are approximately USD100bn. Additionally, at the end of 2007, there were over
400 private equity and real estate funds domiciled and/or administered in Jersey. Huw Jones, EMEA Regional Head of JPMorgan Private Equity Fund Services commented:
“Establishing a Jersey presence is a major step forward for our European
PEFS business, allowing us to service a broader range of European private equity
firms. Following the successful launch of our London presence last year, this
expansion solidifies our leading administrator position in the European private
equity market.” “We welcome the Private Equity Fund Services team to our Jersey office,”
added Jenny Swan, general manager of JPMorgan’s Jersey office. “JPMorgan
has had a presence in Jersey for over 30 years and currently offers services
across a number of the firm’s business lines. The Private Equity Fund
Services team will leverage existing capabilities and relationships.” PEFS currently services more than 200 funds representing USD58bn in committed
capital, and serves the world's largest and most sophisticated institutional
investors with USD135bn in aggregate committed capital across thousands of private
equity investments. In addition to its new Jersey location, JPMorgan Private
Equity Funds Services also has offices in New York, London, Sydney, San Francisco,
Chicago and Dallas. JPMorgan Chase & Co. is a leading global financial services firm with assets
of USD1.8 trillion and operations in more than 60 countries. A comprehensive report in our Intelligence Report series examining tax-sheltering arrangements for investors, including Venture Capital, Forest Finance, Film Finance, is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report5.asp
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