O’Neal Webster advises on multiple fund formations, conversions, and approved manager applications in first half of 2022

O’Neal Webster has advised on the formation or conversion of multiple open-ended British Virgin Islands investment funds in the first two quarters of 2022, whether as incubator, approved, or professional funds. And, a mix of funds structured as segregated portfolio entities is again on the rise. The firm has also advised on several approved manager applications for clients primarily based in North America and Asia. These managers are being used to manage BVI funds and non-BVI funds set up onshore or in other offshore business finance centers.

According to Kerry Anderson, partner and head of O’Neal Webster’s Investment Funds and Regulatory Department, the digital asset space is continuing to fuel great interest in the use of BVI investment vehicles. “While incubator funds continue to see the most interest,” Mr. Anderson explains, “we have noted renewed interest in BVI professional funds with clients spanning the globe, from Canada to Australia. No doubt, BVI’s investment products’ flexibility, ease of use, and robust regulatory environment continue to be attractive in the global marketplace.”

Partner Christopher Simpson adds, “We have seen a tremendous uptick in the number of fund formations and conversions over the past few months. We are encouraged to see incubator funds move on to become professional funds, having been with them throughout the journey. Also, the ease of set up and flexibility under the BVI approved manager regime is driving more managers to use the regime to manage funds among a wide cross-section of the global investment funds community. In particular, we are seeing an increased use of the BVI approved manager in Asia for funds involved in crypto and other emerging blockchain technologies.”

For more information about BVI fund formation, conversion, and the approved investment manager regime, please contact Christopher Simpson at csimpson@onealwebster.com or Kerry Anderson at kanderson@onealwebster.com or +1-284-393-5800.

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