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 Oct. According to the publication, “The winners represent the best in the US private equity industry, from GPs [General Partners] to service providers, covering all the various parts of the private equity ecosystem.”
Bloomberg partnered on the awards, providing the data based on which finalists were shortlisted before a vote by industry representatives determined the winners.
“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,” PE Wire said in a press release.
Cayman Finance CEO Jude Scott said the award 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 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.”
There are approximately 11,200 closed-ended or private funds registered in the Cayman Islands. About 70% of non-US domiciled alternative investment funds that are managed by US Securities and Exchange Commission-registered advisors are domiciled in Cayman.