Apax Partners and Permira bring boost to Guernsey assets

“Big ticket” private equity promoters such as Apax Partners and Permira have helped drive Guernsey’s total private equity assets under management past the £100 billion mark for the first time.

Figures from the Guernsey Financial Services Commission (GFSC) show that the net asset value of private equity funds under management and administration in the island grew by £25 billion over the course of 2016 to stand at £110.3 billion (€118.3 billion) at the end of December.

There were substantial launches last year by promoters including Permira, Apax, Cinven, Macquarie, Partners Group and Inflexion, according to the trade body Guernsey Finance, which described the firms as “big ticket” promoters.

Dominic Wheatley, chief executive of Guernsey Finance, said: “There has been a consistent undercurrent of fundraising on top of which we have seen a number of showstopper launches.”

One of the funds, Permira VI, raised €7.5 billion and was the largest buyout fundraising in Europe during 2016, Guernsey Finance said.

Guernsey is located in the Channel Islands between the UK and France. Though outside the EU, it has access to European markets.

Guernsey Finance and the Guernsey Investment Fund Association host the Guernsey Funds Forum in London on Thursday, May 11.

©2017 funds europe

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