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07 January 2021
Private Client & Offshore Services Cayman Islands
Private equity sponsors, investors, lenders and service providers will be well aware of the Cayman Islands' prominence as a domicile for global private equity funds. For the best part of 20 years, sponsors and their global advisers have been attracted by the Cayman Islands' neutrality, efficiency, quality and flexibility – but also by its predictability.
So when, at the prompting of the European Union, the Cayman Islands announced in early 2020 that all Cayman-domiciled closed-ended funds (including private equity and real estate funds) would be required to register with the Cayman Islands Monetary Authority (CIMA) by August 2020, this seemed like a shake-up.
Now that the dust has settled, what lessons have been learned?
The three unknowns are:
For this unusual year, it feels fitting to mandate private equity funds to accept a new normal. That so many thousands have done so says something about the resilience of Cayman private equity structures – and perhaps even human nature.
For further information on this topic please contact Nick Rogers at Ogier by telephone (+1 345 949 9876) or email (nick.rogers@ogier.com). The Ogier website can be accessed at www.ogier.com.
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