The Government of Jersey and the Jersey Financial Services Commission (JFSC) have announced further enhancements to the Jersey Private Fund (JPF) regime.

The latest enhancements are the product of significant collaboration between the Government of Jersey, the JFSC, Jersey Finance and the Jersey Funds Association (JFA) and come into effect on 6 August 2025.

Combined, the changes seek to address evolving trends in the private capital space, including scalability, flexibility and speed to market. The enhancements include:

- Removal of the 50 offer/investor cap: a JPF may now make an unlimited number of offers and have an unlimited number of investors, provided the offer is made to a "restricted group of investors" and that each investor is a "professional investor" as defined in the Jersey Private Fund Guide (JPF Guide) published by the JFSC. A new Ministerial Order has been passed (known as the Collective Investment Funds (Jersey Private Funds) Order 2025 (the JPF Order), which introduces a simplified test for a 'restricted group of investors' which means: (i) the offer is addressed to an identifiable category of persons to whom it is directly communicated by the offeror or the offeror's appointed agent; and (ii)only persons in that category may accept the offer.

- 24-hour authorisation: the JFSC has introduced a streamlined 24-hour authorisation timeframe for JPF regulatory consents.

- Listing may be permitted: units/shares/interests in a JPF may now be listed with the consent of the JFSC.  

- Widened definition of professional investor: the JPF Guide already includes 12 broad categories of investors that can invest in a JPF, the updated JPF Guide has now been expanded further.

The updated version of the JPF Guide, together with a Q&A for industry, will be available on the JFSC's website.

Joel Hernandez, Chair of the JFA said:

"The JFA welcomes the Government and the JFSC's continued commitment to further refine and strengthen the Jersey Private Fund regime. The JPF regime remains a strong solution for the global market, offering efficient, streamlined, and proportionate regulation for private investment funds. Its improved flexibility, accessibility and simplicity to launch continue to enhance the JPF regime's effectiveness."

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