Maples Group Celebrates Strong Ties between Japan and its Multi-Jurisdictional Global Network

The Maples Group, a leading global provider of legal, fiduciary, fund, regulatory and compliance services, hosted a distinguished networking event in Tokyo this evening with industry leaders and practitioners from Japan’s asset management, finance and corporate sectors in attendance. Celebrating the enduring connections between Japan and its multi-jurisdictional global network, the Group was also joined by Cayman Finance and representatives of its Hong Kong, Singapore, Cayman Islands, Jersey, Dublin and London offices.

The highlight of the evening was a captivating fireside chat between Nick Harrold, a Singapore-based Partner in the Group’s Asia Fund & Investment Management practice, and Steve McIntosh, CEO of Cayman Finance. Their conversation delved into the symbiotic connection between the Cayman Islands and Japan in the world of finance and investment. Notably, it was mentioned that the Cayman Islands currently attracts more than two-thirds of Japanese investments in overseas investment funds and at the end of 2022 Japanese holdings in Cayman Islands investment funds amounted to a staggering JPY87.6 trillion, making Japan the second most important source of portfolio investments for the Cayman Islands, with a total of US$779 billion in assets.

Addressing the gathering, Steve McIntosh, CEO of Cayman Finance, remarked, “I think we are at a very exciting time in the relationship between Japan and the Cayman Islands. Cayman funds are already being used by Japanese institutional investors as they seek to rebalance their portfolios and move into alternative asset classes such as private equity, venture capital and private credit. However, the Japanese government’s stated intention of doubling Japan’s household income from investment earnings, and the related steps that it is taking to facilitate this, provides further opportunities for the Cayman Islands to work closely with Japanese promoters, in the retail funds space, in order to achieve the government’s stated objective.”

Michael Gagie, Asia Regional Managing Partner said, “It was fantastic to bring everyone together to celebrate the long-standing relationships that we have with our Japanese clients, as well as the newer relationships that we are seeing develop as Japanese clients increasingly expand their horizons into other jurisdictions where the Maples Group operates. We believe there are significant opportunities for the Maples Group in the Japanese market and this event provided an excellent platform to engage with clients and colleagues and explore these prospects.”

Gagie further underscored the enduring nature of these relationships, citing examples of successful partnerships across the Group’s structured finance and funds teams that have lasted for more than several decades, weathering various challenges and changes in the financial landscape.

The presence of Maples Group’s Global Managing Partner, Jonathan Green and Global Head of Funds & Investment Management, Michael Richardson along with other Cayman-based Partners, further demonstrated the Group’s commitment to the Japanese market.

The Maples Group boasts a robust Japanese practice, with dedicated lawyers and professionals based across its offices in Asia, British Virgin Islands, Cayman Islands, Ireland, Jersey, London and Luxembourg, providing comprehensive support to Japanese financial institutions and other clients. This dedicated team offers an all-encompassing Japanese Funds solution, delivering legal, trustee, fiduciary and fund administration services.

The Group has been operating in Asia for nearly 30 years building an impressive team of over 300 specialist lawyers and professionals based in Hong Kong and Singapore. In Asia, the Group’s law firm practises British Virgin Islands, Cayman Islands and Irish law. Impressively, the firm continues to achieve Tier 1 rankings by respected industry publications including the recent IFLR1000 2023 APAC rankings where it was the only law firm to receive a Tier 1 ranking for the Investment Funds: Offshore category. Its Asia practice continues to advise on some of the most successful managers in Asia including multi-billion dollar fund launches, high-profile portfolio investments and divestments, secondaries deals and top-tier restructurings.