This article first appeared in Hedgeweek following Ogier's selection as winner of the Best Offshore Law Firm category of the US Hedgeweek Awards 2020.
The growth of global regulations will continue to have an impact on every aspect of the investment funds industry, including the Cayman Islands as a jurisdiction. In this environment of rising regulation investment managers are increasingly looking to law firms like Ogier to provide them with support and help bring consistency across jurisdictions.
“Clients need our assistance not only on Cayman Islands regulatory matters. They are also looking for cross-jurisdictional support from our other offices in Luxembourg and the Channel Islands, as well as our BVI and HK teams,” said James Bergstrom, Ogier's Global Head of Funds and the principal architect of our Cayman funds practice. “In addition to our cross-jurisdictional support, our institutional clients rely on our broader advisory services to complement our investment funds advice – such as in fund finance, corporate restructuring and insolvency matters.”
Our investment funds team advises on the full spectrum of fund structures and strategies, including: hedge, private equity, real estate, infrastructure, energy, credit, debt, venture capital, crypto currency, hybrid, impact and socially responsible investing.
This has been an outstanding year of growth for Ogier. “As one of the leading Cayman Islands law firms with a long established investment funds practice, our team has had great success working with clients to address the requirements arising from the recent changes to the registration regime for investment funds, through proactive and diligent engagement with legislators, regulators and industry bodies,” said James.
The firm’s strong regulatory expertise was at the forefront of its activity through 2020. The team continued to place great emphasis on its work guiding clients through the shifting regulatory landscape.
“The introduction by the Cayman Islands in 2020 of a registration regime for closed-ended funds as well as the expansion of the registration regime for open-ended funds has provided managers and investors with additional protection and transparency.
“Other recent legislative amendments have strengthened the anti-money laundering and terrorism financing laws, introduced data protection measures and enhanced tax transparency. These developments are all helping to safeguard the reputation of the Cayman Islands as the leading jurisdiction for investment funds," said James.
Additionally, the sustainability agenda is now touching every element of industry and commerce. As a result, there is increased demand in the hedge fund industry for initiatives and innovation at every level. Ogier was the first offshore law firm to establish a dedicated Sustainable Investing and Impact Funds practice, led by partner and Head of ESG Funds Kate Hodson, and the firm is committed to providing thought leadership in this area.
Looking ahead, Ogier aims to continue providing clients with agile and responsive support in an increasingly challenging regulatory environment. “Our ongoing objective is to cut through complexity to provide tailored, practical solutions for all our clients' legal and compliance needs,” said James.