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<p style="text-align: center;"><span style="font-family: arial,helvetica,sans-serif; font-size: 12px;"><strong><strong>Carne receives approval for new AIFM Manco in Channel Islands</strong></strong></span><br /><span style="font-family: arial,helvetica,sans-serif; font-size: 12px;"><strong><a href="http://newsletter.ie/run/v3.aspx?m=Is2hdgw18D%2FAyWdW35btsBwktegWDSZVxbfYObgiH87JPILiNyqqA7%2Br7VZXZK7aAyXZXXipe10%3D_zek_d7ddk">View in browser</a> | <a href="http://newsletter.ie/run/tafn.aspx?m=Is2hdgw18D%2FAyWdW35btsBwktegWDSZVxbfYObgiH87JPILiNyqqA7%2Br7VZXZK7aAyXZXXipe10%3D_zek_d7ddk" >Tell a Friend</a><br /></strong></span></p>
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<td style="border: 0px;" bgcolor="#ffffff"> <br /> <img src="http://newsletter.ie/E/organization/CARNE/Images/carneGlobalLogo.jpg" style="display: block;" alt="Carne" title="Carne" width="622" height="102" border="0" /></td>
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<h2 style="padding-top: 4pt; line-height: 1.15; text-align: left; color: #000000; font-size: 12pt; font-family: 'Cambria'; font-weight: bold;"><span>PRESS RELEASE</span></h2>
<h1 style="line-height: 1.15; text-align: left; color: #365f91; font-size: 14pt; font-family: 'Cambria'; font-weight: bold;"><span>Carne receives approval for new AIFM Manco in Channel Islands</span></h1>
<h2 style="line-height: 1.15; text-align: left; color: #365f91; font-size: 12pt; font-family: 'Cambria'; font-weight: bold;"><span>AIFMD-compliant Management Company now available for alternative investment managers, including private equity and real estate funds, seeking a non-EU solution</span></h2>
<p><strong>St Helier, JERSEY, October 2014:</strong> Carne Group, one of the leading providers of governance and AIFMD solutions to the alternative investment industry, has received authorisation for an independent AIFMD-compliant management company in the Channel Islands. The new management company has become immediately operational with Carne Group’s fund clients. It is particularly suitable for alternative fund managers, including credit, hedge fund, private equity, infrastructure and real estate investment firms.</p>
<p>Carne has received authorisation as a fund services business from the Jersey regulator, the Jersey Financial Services Commission (JFSC).</p>
<p>Carne already has over 20 clients making use of its AIFMD management company solutions in Ireland and Luxembourg. The Jersey management company is the first to be approved outside the European Union and allows managers to comply with the AIFMD regime while maintaining a fund in an offshore, non-EU jurisdiction. It is ideally suited for EU managers who fall within the AIFMD threshold but do not have an AIFM license.</p>
<p>Said Mark Hodgson, Managing Director with Carne Group in the Channel Islands: “We are very grateful to the JFSC, which has been extremely proactive in helping us to launch our independent third party manco structure in the Channel Islands. We are seeing a great deal of interest from alternative fund managers in a Channel Islands structure of this nature, which allows them to meet the requirements of the AIFM Directive without the need for an EU fund domicile.</p>
<p>“Carne is already recognised as a leading provider of operationally robust management company solutions under the AIFM Directive. Our mancos are supported by risk management and oversight teams who draw on deep expertise in the European regulatory and operational environments. Regulators and our fund management clients recognise this.”</p>
<p>The launch of the management company comes in the wake of the opening of Carne’s office in the Channel Islands in June of this year.</p>
<p>Geoff Cook, CEO of Jersey Finance, added: “We are pleased that a global fund provider like Carne has chosen to expand its operations into Jersey. We have been working hard to ensure our funds industry continues to be at the forefront of delivering fund services, attracting managers and investors with a flexible and innovative funds regime, which includes making enhancements so that Jersey can provide a ‘business as usual’ approach in relation to the EU Alternative Investment Fund Managers Directive (AIFMD).</p>
<p>“Jersey’s sophisticated and stable legal, tax and regulatory framework ensures that Jersey remains the jurisdiction of choice for funds services business. We wish Carne success in the opening of their new office in Jersey, which will provide clients with flexibility and choice.”</p>
<p>Carne provides management company and distribution support for leading names in the alternative investment management and liquid alternatives space, working to help them to meet their European distribution requirements. Carne also supplies highly experienced independent directors to fund boards, including for Channel Islands funds.</p>
<p>ENDS</p>
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<div style="border: 1px solid #353535; padding: 2px;">Contact details:
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<td style="width: 50%; text-align: left; color: #353535; font-size: 11pt; font-family: 'Cambria'; padding: 2px; font-weight: bold;">Channel Islands</td>
<td style="width: 50%; text-align: left; color: #353535; font-size: 11pt; font-family: 'Cambria'; padding: 2px; font-weight: bold;">London</td>
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<td style="width: 50%; text-align: left; color: #353535; font-size: 11pt; font-family: 'Cambria'; padding: 2px;">Mark Hodgson</td>
<td style="width: 50%; text-align: left; color: #353535; font-size: 11pt; font-family: 'Cambria'; padding: 2px;">Aymeric Lechartier</td>
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<td style="width: 50%; text-align: left; color: #353535; font-size: 11pt; font-family: 'Cambria'; padding: 2px;">T: +44 1534 511786</td>
<td style="width: 50%; text-align: left; color: #353535; font-size: 11pt; font-family: 'Cambria'; padding: 2px;">T: +44 207 936 9139</td>
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<td style="width: 50%; text-align: left; color: #353535; font-size: 11pt; font-family: 'Cambria'; padding: 2px;">e: <a style="text-decoration: none; color: #365f91; border-bottom: 1px dotted #365f91;" href="mailto:mark.hodgson@carnegroup.com">mark.hodgson@carnegroup.com</a></td>
<td style="width: 50%; text-align: left; color: #353535; font-size: 11pt; font-family: 'Cambria'; padding: 2px;"><a style="text-decoration: none; color: #365f91; border-bottom: 1px dotted #365f91;" href="mailto:aymeric.lechartier@carnegroup.com">aymeric.lechartier@carnegroup.com</a></td>
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<td style="width: 50%; text-align: left; color: #353535; font-size: 11pt; font-family: 'Cambria'; padding: 2px; font-weight: bold;">Ireland</td>
<td style="width: 50%; text-align: left; color: #353535; font-size: 11pt; font-family: 'Cambria'; padding: 2px; font-weight: bold;">Luxembourg</td>
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<td style="width: 50%; text-align: left; color: #353535; font-size: 11pt; font-family: 'Cambria'; padding: 2px;">John Skelly</td>
<td style="width: 50%; text-align: left; color: #353535; font-size: 11pt; font-family: 'Cambria'; padding: 2px;">Thomas Nummer</td>
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<td style="width: 50%; text-align: left; color: #353535; font-size: 11pt; font-family: 'Cambria'; padding: 2px;">T: +353 489 6806</td>
<td style="width: 50%; text-align: left; color: #353535; font-size: 11pt; font-family: 'Cambria'; padding: 2px;">T: +352 2673 231</td>
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<td style="width: 50%; text-align: left; color: #353535; font-size: 11pt; font-family: 'Cambria'; padding: 2px;">e: <a style="text-decoration: none; color: #365f91; border-bottom: 1px dotted #365f91;" href="mailto:john.skelly@carnegroup.com">john.skelly@carnegroup.com</a></td>
<td style="width: 50%; text-align: left; color: #353535; font-size: 11pt; font-family: 'Cambria'; padding: 2px;"><a style="text-decoration: none; color: #365f91; border-bottom: 1px dotted #365f91;" href="mailto:thomas.nummer@carnegroup.com">thomas.nummer@carnegroup.com</a></td>
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<td style="width: 50%; text-align: left; color: #353535; font-size: 11pt; font-family: 'Cambria'; padding: 2px; font-weight: bold;">Chicago</td>
<td style="width: 50%; text-align: left; color: #353535; font-size: 11pt; font-family: 'Cambria'; padding: 2px; font-weight: bold;">New York</td>
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<td style="width: 50%; text-align: left; color: #353535; font-size: 11pt; font-family: 'Cambria'; padding: 2px;">Scott Craven Jones</td>
<td style="width: 50%; text-align: left; color: #353535; font-size: 11pt; font-family: 'Cambria'; padding: 2px;">Joe Hardiman</td>
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<td style="width: 50%; text-align: left; color: #353535; font-size: 11pt; font-family: 'Cambria'; padding: 2px;">T: +1 312 804 1823</td>
<td style="width: 50%; text-align: left; color: #353535; font-size: 11pt; font-family: 'Cambria'; padding: 2px;">T: +1 732 642 5808</td>
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<td style="width: 50%; text-align: left; color: #353535; font-size: 11pt; font-family: 'Cambria'; padding: 2px;">e: <a style="text-decoration: none; color: #365f91; border-bottom: 1px dotted #365f91;" href="mailto:scott.cravenjones@carnegroup.com">scott.cravenjones@carnegroup.com</a></td>
<td style="width: 50%; text-align: left; color: #353535; font-size: 11pt; font-family: 'Cambria'; padding: 2px;"><a style="text-decoration: none; color: #365f91; border-bottom: 1px dotted #365f91;" href="mailto:joe.hardiman@carnegroup.com">joe.hardiman@carnegroup.com</a></td>
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<td style="width: 50%; text-align: left; color: #353535; font-size: 11pt; font-family: 'Cambria'; padding: 2px; font-weight: bold;">Asia Pacific</td>
<td style="width: 50%; text-align: left; color: #353535; font-size: 11pt; font-family: 'Cambria'; padding: 2px; font-weight: bold;">Cayman Islands</td>
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<td style="width: 50%; text-align: left; color: #353535; font-size: 11pt; font-family: 'Cambria'; padding: 2px;">Chris Day</td>
<td style="width: 50%; text-align: left; color: #353535; font-size: 11pt; font-family: 'Cambria'; padding: 2px;">John Ackerley</td>
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<td style="width: 50%; text-align: left; color: #353535; font-size: 11pt; font-family: 'Cambria'; padding: 2px;">T: +44 207 936 9692</td>
<td style="width: 50%; text-align: left; color: #353535; font-size: 11pt; font-family: 'Cambria'; padding: 2px;">T: +1 345 769 9902</td>
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<td style="width: 50%; text-align: left; color: #353535; font-size: 11pt; font-family: 'Cambria'; padding: 2px;">e: <a style="text-decoration: none; color: #365f91; border-bottom: 1px dotted #365f91;" href="mailto:chris.day@carnegroup.com">chris.day@carnegroup.com</a></td>
<td style="width: 50%; text-align: left; color: #353535; font-size: 11pt; font-family: 'Cambria'; padding: 2px;"><a style="text-decoration: none; color: #365f91; border-bottom: 1px dotted #365f91;" href="mailto:john.ackerley@carnegroup.com">john.ackerley@carnegroup.com</a></td>
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<p><span style="font-weight: bold; text-decoration: underline;">About Carne</span></p>
<p>Carne is a leading international specialist in the provision of independent governance services and European management company solutions to the global asset management industry. We advise both hedge fund and traditional fund managers on their governance, oversight and management needs, as well as providing independent Directors to the boards of some of the most respected investment funds globally. Carne has fund directors resident in the key fund jurisdictions, including the Cayman Islands, Channel Islands, Ireland, Luxembourg, Switzerland, the UK and USA.</p>
<p><strong><a style="text-decoration: none; color: #365f91; border-bottom: 1px dotted #365f91;" href="http://www.carnegroup.com">www.carnegroup.com</a></strong></p>
<p><img src="http://newsletter.ie/E/organization/CARNE/Images/watermark.jpg" style="float: right;" width="100" height="100" border="0" /></p>
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<p style="text-align: center;"><span style="font-family: arial,helvetica,sans-serif; font-size: 12px;"><strong><br /> <br />This email was sent to HBiden@rosemontseneca.com.<br /><a href="http://newsletter.ie/run/OO.aspx?m=Is2hdgw18D%2FAyWdW35btsBwktegWDSZVxbfYObgiH87JPILiNyqqA7%2Br7VZXZK7aAyXZXXipe10%3D_zek_d7ddk">Unsubscribe </a>| <a href="http://newsletter.ie/run/mcp.aspx?m=Is2hdgw18D%2FAyWdW35btsBwktegWDSZVxbfYObgiH87JPILiNyqqA7%2Br7VZXZK7aAyXZXXipe10%3D_zek_d7ddk" >Update Details</a> | <a href="http://newsletter.ie/run/tafn.aspx?m=Is2hdgw18D%2FAyWdW35btsBwktegWDSZVxbfYObgiH87JPILiNyqqA7%2Br7VZXZK7aAyXZXXipe10%3D_zek_d7ddk" >Tell a Friend</a><br /></strong></span></p>
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<p><br /><span style="font-size: 10px; font-family: arial,helvetica,sans-serif;"><span style="color: #ffffff;">Carne Global Financial Services Limited</span></span></p>
<p><span style="font-family: arial,helvetica,sans-serif; font-size: 10px;"><a style="text-decoration: none;" href="http://www.carnegroup.com/"><span style="color: #ffffff;">http://www.carnegroup.com/</span></a></span></p>
<p><span style="font-size: 10px; font-family: arial,helvetica,sans-serif;"><span style="color: #ffffff;">Dublin - Cayman Islands - Channel Islands - Chicago - London - Luxembourg - New York - Switzerland </span></span></p>
<p style="text-align: justify; padding: 2px;"><span style="font-family: arial,helvetica,sans-serif; font-size: 10px;"><span style="color: #ffffff;">The information in this e-mail and any attachments is confidential and may be legally privileged. It is intended solely for the addressee or addressees. If you are not an intended recipient, please delete the message and any attachments and notify the sender of misdelivery: any use or disclosure of contents of either is unauthorised and may be unlawful. All liability for viruses is excluded to the fullest extent permitted by law. Any views expressed in this message are those of the individual sender, except where the sender states them, with requisite authority, to be those of Carne Global Financial Services Limited. If the e-mail is addressed to a client, any opinion or advice contained in this e-mail is subject to the terms and conditions expressed in the governing client agreement. </span></span><span style="font-family: arial,helvetica,sans-serif; font-size: 10px;"><span style="color: #ffffff;">Carne Global Financial Services Limited; Registered Office: 2<sup>nd</sup> Floor, Block E, Iveagh Court, Harcourt Road, Dublin 2, Ireland; Registered in Ireland: Registration No. 380564.</span> </span> </p>
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