The Cayman Islands has been named ‘Best Private Equity Fund Domicile’ at the 2020 Private Equity Wire US Awards.
The awards, hosted by industry publication Private Equity Wire, were announced at a virtual ceremony on 8 October 2020. “The winners represent the best in the US private equity industry, from GPs to service providers, covering all the various parts of the private equity ecosystem,” the publication stated.
Bloomberg partnered on the awards, providing the data on which shortlists of finalists was selected before a vote by industry representatives. “This means that winning a Private Equity Wire award constitutes a vote of recognition from your peers and a significant mark of achievement, particularly so in this extraordinary year,” a PE Wire release stated.
Responding to the announcement of the award, Cayman Finance CEO Jude Scott said this was further validation of the Cayman Islands as a leading tax neutral hub that efficiently supports global economic growth and recovery.
“Cayman is an excellent example of a well-regulated jurisdiction that is a significant source of global liquidity,” said Mr Scott. “As a leading international financial centre, the Cayman Islands financial services industry’s leading role in the global financial system continues to provide benefits to governments and their citizens around the world, especially as they recover from the economic impact of COVID-19.”
More than 23,000 investment funds are domiciled in the Cayman Islands. In fact, 70 percent of non-US domiciled alternative investment funds managed by US Securities and Exchange Commission-registered advisors are domiciled in the Cayman Islands.