Neal Lomax, James Wauchope, Julian Fletcher, Robert Duggan, Alex Last and Simon Thomas
Mourant Ozannes
March 2013
Introduction
This briefing explains the attractions for international managers, sponsors and investors of the Cayman Islands as the jurisdiction in which to domicile a private equity fund.
The terms ‘private equity’ and ‘closed-ended’ are often used interchangeably, principally to differentiate funds of this type from ‘hedge’ or ‘alternative’ funds which invest in liquid assets and give investors the option to redeem their investments on regular liquidity dates.
The term ‘private equity fund’ commonly denotes a non-retail fund investing in illiquid assets and, while used most frequently in the context of a typical buyout fund, covers a range of funds including real estate funds, venture capital funds, infrastructure funds, credit opportunity and other debt funds, secondary funds and funds of funds.
