Following on from its recent vote of confidence by private equity guru Jon Moulton, Guernsey has now been ranked as the number one location for private equity fund administration, according to findings by State Street.
The findings of the survey of UK chief financial officers were released at this week’s Super Return International conference and found that 61 per cent of respondents noted Guernsey as their preferred destination for private equity outsourcing.
The news comes just weeks after figures were published showing the total value of private equity funds under management and administration in Guernsey now stand at more than £78 billion.
Guernsey was also found to have improved in the recent Fund Domiciles Stability Index which put the island as the third most stable location for offshore-funds, based on a combination of macroeconomic and fiscal data in addition to fund flow statistics.
Among the island’s fans, is private equity boss Jon Moulton whose Guernsey-incorporated Better Capital is listed on the main market of the London Stock Exchange.
Earlier this month it converted to a protected cell company (PCC) with the interests of the existing fund being moved into the ‘2009 cell’. He has launched a second cell – the 2012 cell for subsequent interests.
It has become the first example of a closed ended PCC with more than one cell having a full London Stock Market Listing.