Guernsey debuts innovative green fund structure
A new structure has successfully launched under the Guernsey Green Fund kitemark, marking another world first for Guernsey, according to Guernsey Finance, which added that the newly incorporated protected cell company has marked a significant milestone for the international finance centre as a ‘Green Fund Cell’ first.
Thornbridge Investment Management has now launched two new investment cells – the Core Resilience Cell and the Regenerative Growth Cell – on the Fundline platform, in collaboration with investment adviser Resilience Asset Management, who focus on climate, biodiversity and impact.
The cells are the first to have been authorised by the Guernsey Financial Services Commission as a Class B scheme for investors, further highlighting Guernsey’s position as a leading jurisdiction for both cutting-edge cross-border fund solutions and sustainable finance.
Fundline was supported by lead legal advisor Carey Olsen alongside Suntera Global as fund administrator and Butterfield Bank (Channel Islands) providing custody services.
Chief commercial officer at Butterfield, and member of the Sustainable Finance Guernsey Council, Jacob Cockcroft, said: “Butterfield is proud to be part of this fantastic use of Guernsey’s Green Fund framework to create innovative financing solutions. Our extensive experience providing custody services in the Channel Islands positions us well to support the revival in investor interest in Guernsey Class B open-ended funds.”
Ian Horswell, head of business development at Suntera, said: “This is a cutting-edge investment fund structure that aims to draw both on Guernsey’s first-class regulatory framework for supporting cross-border fund solutions, but also leans heavily into its green finance capabilities. I’m really pleased that our team in Guernsey has been able to support with the launch of these new cells in what is a first for the jurisdiction.”
Partner at Carey Olsen, Matt Brehaut, added: “We are delighted to have assisted on the successful launch of Fundline PCC Limited and its related investment cells. This is a significant achievement which reflects Guernsey's enduring position as a premier jurisdiction for sophisticated fund vehicles that offer flexibility, credibility, and sustainable investment.”
Rupert Pleasant, chief executive of Guernsey Finance, said: “With the constant flux in international sustainable finance regulations, the Guernsey Green Fund provides certainty and pragmatism and remains a tried and tested route to make a positive impact. The launch of Fundline PCC demonstrates the value the Guernsey Green Fund as a kitemark, and of Guernsey’s expertise as a leading international finance centre for sustainable finance.”
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