A delegation of funds professionals from Guernsey has helped spread the message in the US that the Island is well equipped to cater for private equity funds business.
Peter Niven, Chief Executive of Guernsey Finance – the promotional agency for the Island’s finance industry, led the team to New York for a series of meetings with US private equity advisers, such as lawyers and accountants, before they headed to Boston for further meetings and to exhibit at the specialist private equity conference, SuperReturn USA.
Mr Niven said: “We were very well received by the lawyers and accountants we met in New York and Boston. Being able to get the Guernsey private equity message across to these professionals was very useful and needs to be done on a regular basis, particularly as we are now seeing renewed interest from across the Atlantic in what we can offer as a gateway to the European capital markets.
“We were also able to deliver our private equity message to specific investment managers at the Boston conference, as well as meet up with a number of firms who already use Guernsey very successfully and could be a force for good in the US to allow us to attract even more business. There is currently more business being done in the US than elsewhere, so we need to capture it while some of our more historic business introducers are not so buoyant.”
Mr Niven was joined in New York by Gavin Farrell, from law firm Mourant Ozannes and Tony Mancini from KPMG, while Ray Page and Julian Carey, both from fund administrator International Administration Group (IAG), joined them in Boston for further meetings and the SuperReturn USA conference itself.
Guernsey Finance and representatives from industry have already been in attendance at SuperReturn International in Berlin earlier this year and will also be present at SuperReturn Asia in Hong Kong in September and SuperReturn Middle East in Dubai in October. SuperInvestor in Paris in November will also see a Guernsey presence.
Mr Niven added: “Our latest fund statistics show that there were a significant number of new fund launches in the first quarter of this year in Guernsey but it is important that we do not rest on our laurels and simply rely on business coming from our traditional
markets of the UK and Europe. It means that attendance at these prominent funds events is important in order for us to keep promoting Guernsey’s experience and expertise in catering for investment funds business, and private equity in particular.”
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