Jersey’s Fund Industry: Embracing Virtual Assets and Tokenisation

The alternative investment landscape is rapidly evolving, with technological advancements reshaping traditional financial structures. Among these innovations, virtual assets and tokenisation are emerging as transformative forces, offering new opportunities for investors and fund managers alike. Jersey’s fund industry, known for its robust regulatory framework and adaptability, is positioning itself at the forefront of these developments.

The Rise of Virtual Assets in Alternative Investments

According to Jersey Finance’s report on Trends in Alternative Investing, virtual assets are gaining traction as investors seek greater liquidity, transparency, and accessibility in their portfolios. The digitization of financial instruments through blockchain technology is creating efficiencies that traditional investment vehicles struggle to match.

Jersey’s financial services sector has responded to this shift by developing a regulatory environment that supports responsible virtual asset investment while maintaining high compliance standards. The jurisdiction’s commitment to balancing innovation with investor protection has been a key factor in its growing appeal to fund managers exploring digital asset opportunities.

Tokenisation: Transforming Asset Ownership

Tokenisation—the process of representing real-world assets as digital tokens on a blockchain—is redefining how investments are structured and traded. From real estate and private equity to fine art and commodities, tokenisation allows for fractional ownership, increased liquidity, and enhanced market efficiency.

Jersey’s fund administrators are leveraging this technology to offer new investment solutions. As highlighted in Jersey Finance’s report, the ability to fractionalize assets through tokenisation enables broader investor participation, reducing barriers to entry and enhancing portfolio diversification. Furthermore, blockchain-powered smart contracts streamline administrative processes, reducing costs and increasing operational transparency.

Regulatory Readiness: Jersey’s Competitive Edge

Jersey’s financial regulators have been proactive in accommodating virtual assets within the existing legal framework. The Virtual Asset Service Provider (VASP) regime, introduced to ensure compliance with global anti-money laundering (AML) and counter-terrorist financing (CTF) standards, provides investors with confidence in the jurisdiction’s oversight capabilities.

By integrating clear regulatory guidance on tokenised assets, Jersey is positioning itself as a trusted hub for institutional investors looking to explore digital asset strategies. The report by Jersey Finance notes that this regulatory foresight is critical in attracting fund managers who prioritize security, compliance, and operational efficiency.

The Future of Virtual Assets in Jersey’s Fund Industry

As investor demand for digital assets and tokenisation continues to grow, Jersey’s fund industry is well-placed to harness these innovations. The island’s deep expertise in alternative investments, combined with its forward-thinking regulatory approach, ensures that fund managers can confidently navigate the evolving landscape of digital finance.

Jersey Finance’s report underscores that the future of alternative investing is increasingly digital, and jurisdictions that embrace these changes will be best positioned for long-term growth. With its strong governance framework and commitment to innovation, Jersey is solidifying its reputation as a premier destination for fund managers seeking to integrate virtual assets and tokenization into their investment strategies.

Belasko, with its deep expertise in Jersey’s fund industry, provides tailored fund administration services and are able to support managers embracing digital assets and tokenisation. Our regulatory knowledge, operational excellence, and technology-driven solutions ensure clients benefit from a seamless and compliant investment experience.

For more insights, refer to Jersey Finance’s full report on Trends in Alternative Investing.

Where Are the Wealthy Going? Global Shifts After the UK Non-Dom Reform

Wealth migration experienced a pivotal shift in 2024, with 134,000 high-net-worth individuals (HNWIs) relocating and establishing new domiciles around the world. As we reach the halfway point of 2025, this global trend shows no sign of slowing, with projections indicating that 142,000 HNWIs—each with liquid investable wealth of USD 1 million or more—are expected to move to new jurisdictions in search of favourable tax regimes, stability, and lifestyle benefits[1].

Within this broader global movement, the UK stands out as a key contributor to the outflow. The abolition of the UK’s non-domicile (non-dom) tax regime in 2024 has triggered a significant reassessment among wealthy individuals residing in or connected to the UK. As a result, the country was expected to experience a net loss of 9,500 millionaires in 2024—making it the second-largest loser of millionaires globally, behind only China[2]. Long regarded as a destination of choice for international wealth, the UK’s shifting fiscal landscape has pushed many globally mobile individuals to explore alternative jurisdictions that offer both tax efficiency and a high standard of living.

From the Channel Islands to the Mediterranean and the Middle East, governments are actively competing for this displaced wealth through favourable tax policies, golden visa programs, and lifestyle perks. So, where are the HNWIs going—and why?

Jersey: A trusted safe haven close to home

Jersey continues to attract wealthy individuals seeking proximity to the UK with none of the tax burdens that now come with being UK-resident.

  • Tax advantage: Income tax is capped at 20% on the first £1.25 million, with just 1% on income above that. Crucially, there are no capital gains, inheritance, or wealth taxes.
  • Residency route: The High Value Residency programme remains a popular path, requiring both significant personal wealth and property investment. In 2024, there were 18 approved applications with 11 actual high value resident arrivals. In 2025, approvals are already at 14 with 19 new arrivals—marking a strong increase on last year and signalling continued momentum at only halfway through the year[3].
  • Why Jersey? A politically stable jurisdiction with a world-class financial services sector, Jersey offers a secure and discreet environment just a short flight from London.

Guernsey: predictable, private and tax-friendly

Guernsey mirrors Jersey’s appeal but brings additional flexibility through its tax cap regime.

  • Tax advantage: A flat 20% income tax, with caps ranging from £50,000 to £300,000 depending on income type and property investment.
  • Residency route: Acquiring open market property facilitates residency with fewer bureaucratic hurdles.
  • Why Guernsey? It’s quiet, safe, and sophisticated—ideal for those seeking discretion and a slower pace of life with high-quality financial infrastructure.

Europe: lifestyle, legacy and tax efficiencies

Several European destinations continue to attract HNWIs with a blend of lifestyle appeal and favourable tax treatment. Countries like Italy, Monaco, and Cyprus have carved out strong reputations as wealth-friendly jurisdictions offering both residency pathways and long-term tax advantages.

  • Italy: Italy welcomed around 2,200 wealthy individuals in 2024 and remains attractive despite increasing its flat tax on foreign income to €200,000 annually (plus €25,000 per dependent) [4]. With residency routes including the Elective Residency and Investor Visas, Italy appeals to lifestyle-driven HNWIs drawn by its culture, cuisine, healthcare, and relaxed Mediterranean way of life.
  • Monaco: Monaco continues to lead for tax-free living, with over 200 HNWIs expected in 2025 and millionaire growth of +68% over the last decade[5]. With no income tax and simple residency requirements (proof of accommodation and funds), it offers luxury, security, and prestige in one of the world’s most established wealth hubs.
  • Cyprus: Cyprus offers tax residency with just 60 days’ presence annually and no significant ties elsewhere. Non-doms benefit from exemptions on dividend and interest income and a 12.5% corporate tax rate. Its strategic location, warm climate, and accessible investment-based residency continue to attract HNWIs seeking an EU foothold.

United Arab Emirates: A premier destination for wealth

In 2024, 6,700 millionaires relocated to the UAE. With 142,000 millionaires expected to migrate globally in 2025[6].

  • Tax advantage: No income or inheritance tax.
  • Residency route: Long-term Golden Visas for investors and professionals.
  • Why UAE? A modern, business-friendly environment with luxury infrastructure and zero tax—ideal for entrepreneurs and executives alike.

Choosing the right jurisdiction

Each destination offers a distinct value proposition, shaped by factors such as legal certainty, lifestyle, tax policy, and proximity to key markets. For many, the Channel Islands—particularly Jersey—are increasingly attractive, thanks to strong transport links, cultural alignment with the UK, and long-standing, politically supported regimes for wealth structuring. Their simplicity, discretion, and proven track record in accommodating HNWIs continue to resonate, especially in a post-non-dom environment.

Recent developments, however, also highlight the importance of stability and regulatory alignment when choosing a new base. The Court of Justice of the European Union’s April 2025 ruling against Malta’s investor citizenship scheme serves as a stark reminder. The court found Malta’s “golden visa” program incompatible with EU law due to its transactional nature, raising broader concerns for similar EU programmes and signalling a potential tightening of scrutiny across Europe[7].

As HNWIs reassess their priorities—be it asset protection, mobility, legacy planning, or fiscal efficiency—the jurisdictions discussed here aren’t just alternative places to live. They are platforms for long-term wealth preservation and strategic growth.

At Belasko, we’re seeing increasing demand for relocation support, family governance structures, and asset protection strategies as clients reposition in response to the UK changes. As a cross-jurisdictional firm with deep expertise in private wealth structures, we help clients navigate complex decisions with clarity, discretion, and a long-term view for the future.

Contact Paul Lawrence, Group Managing Director at Belasko (paul.lawrence@belasko.com), to explore tailored structuring options in Jersey and beyond.

 

[1] https://www.henleyglobal.com/publications/global-mobility-report/2025-january/why-2025-will-be-landmark-year-wealth-migration

[2] https://www.henleyglobal.com/publications/henley-private-wealth-migration-report-2024/top-10-country-outflows

[3] https://www.gov.je/Home/RentingBuying/HousingLaws/pages/highvalueresidency.aspx

[4] https://www.reuters.com/world/europe/italy-retains-appeal-super-rich-new-residents-despite-tax-hike-2024-08-09

[5] https://www.henleyglobal.com/publications/henley-private-wealth-migration-dashboard/countries-to-watch

[6] https://gulfbusiness.com/6700-millionaires-relocated-to-the-uae-in-2024/#:~:text=In%202024%2C%206%2C700%20millionaires%20relocated,bn%20(Dhs26bn)%20in%20capital.

[7] European Union-Malta: EU Court Rules Malta’s “Golden Visa” Is Contrary to EU Law | Library of Congress

Diversification Strategies: How Jersey is Leading in Alternative Investments

Jersey has firmly positioned itself as a premier jurisdiction for alternative investments, offering a diversified and resilient financial ecosystem that attracts global fund managers and institutional investors. With its sophisticated regulatory framework, commitment to innovation, and expertise across a broad spectrum of asset classes, Jersey continues to be a leader in alternative investment strategies.

Alternative investments now account for approximately 90% of Jersey’s funds industry, with private equity, venture capital, real estate, infrastructure, and hedge funds dominating the market. According to the Jersey Finance “Trends in Alternative Investing” report, the jurisdiction has seen continued growth in these sectors, particularly in private debt and private equity.

  • Private Equity & Venture Capital: These funds make up the largest segment of Jersey’s alternative investment industry, benefitting from the island’s tax neutrality, robust governance, and streamlined fund structuring solutions.
  • Private Debt: Jersey has seen increased interest in private credit structures as investors seek fixed-income alternatives in a higher interest rate environment.
  • Real Estate & Infrastructure: The island remains a key hub for real estate funds, catering to global property investment strategies and sustainable infrastructure projects.

The continued diversification within these asset classes demonstrates Jersey’s adaptability and ability to cater to investors seeking specialized investment opportunities.

Regulatory and Structural Advantages

Jersey’s success in the alternative investment sector is underpinned by a combination of regulatory flexibility and investor-friendly fund structures. The Jersey Private Fund (JPF) regime remains a popular vehicle, allowing up to 50 offers to sophisticated investors into a streamlined and cost-effective manner. Since its launch, over 600 JPFs have been established, reflecting its efficiency and attractiveness to fund managers.

Additionally, Jersey offers innovative fund structuring solutions, including:

  • Separate Accounts & Co-Investments: Jersey’s seeing an increased demand for separate accounts and co-investments, as institutional investors seek greater control over their capital allocation.
    • Separate accounts offer a bespoke investment structure, allowing investors to tailor mandates, liquidity preferences, and governance, while co-investments provide direct exposure to specific deals with lower fees and stronger alignment with fund managers.
    • Jersey’s Jersey Private Fund (JPF) regime is particularly well-suited for these structures, offering regulatory efficiency and flexibility. With a tax-neutral environment, global market access, and a strong legal framework, Jersey remains a premier jurisdiction for customized investment solutions.
  • Tokenisation & Digital Assets: Jersey is adapting its regulatory frameworks to accommodate the rise of virtual assets, making it an emerging leader in digital asset fund management.
  • ESG and Impact Investment Vehicles: As investors prioritise sustainability, Jersey has positioned itself as a hub for ESG-focused funds, aligning with global initiatives for responsible investing.

Sustainable Investing: A Key Driver for Growth

Jersey’s commitment to sustainable finance is evident through the implementation of its Sustainable Finance Action Plan, which integrates ESG principles into financial services. The jurisdiction has developed robust policies to support the transition towards net-zero investing, encouraging fund managers to align with sustainability goals.

Jersey’s expertise in structuring green funds and sustainable private equity vehicles has made it an attractive jurisdiction for impact investors. Many fund managers are leveraging Jersey’s well-regarded regulatory environment to launch funds that prioritise environmental and social objectives while delivering competitive financial returns.

Navigating Market Challenges and Future Growth

Despite global economic uncertainties, Jersey’s finance industry continues to demonstrate resilience and adaptability. The total net asset value (NAV) of regulated funds in Jersey increased to £457.6 billion in the first half of 2024, with private equity and venture capital funds seeing 21% year-on-year growth.

Key drivers of future growth include:

  • The rise of private credit and direct lending funds as alternatives to traditional bank financing.
  • Continued expansion in infrastructure investment, particularly in renewable energy and sustainable development.
  • Strengthening of cross-border fund distribution in key markets, such as the UK, EU, and Middle East.

Jersey’s ability to innovate and respond to investor demands ensures that it remains at the forefront of the global alternative investment industry.

How Belasko Can Support

At Belasko, we specialise in providing expert fund administration to alternative investment managers. Our deep understanding of Jersey’s financial ecosystem, combined with our tailored approach, allows us to support fund managers in structuring, launching, and managing their investment vehicles efficiently.

As Jersey continues to lead in alternative investment diversification, Belasko is committed to being a trusted partner for fund managers looking to capitalise on the jurisdiction’s strengths. Whether launching a new fund, expanding an existing structure, or exploring co-investment opportunities, our team is here to help navigate the complexities of the market with tailored, expert solutions.

For more insights, refer to Jersey Finance’s full report on Trends in Alternative Investing.

Calling all fund managers – is now the time to review your operating model?

In today’s fast-moving financial landscape, private capital fund managers are undergoing pressure to enhance performance, control costs, and manage risk with greater precision.

Outsourced administration has long played a vital role in supporting these goals. But with shifting market conditions, rising investor expectations, and rapid advancements in technology, many firms are now questioning whether their current setup is still fit for purpose.

Our latest whitepaper explores a timely question:

Is now the right time to upgrade your fund administrator?

Inside, we cover:

  • How to respond effectively to changing market dynamics
  • The four value drivers that should shape your operating model review
  • Key considerations when switching your outsourced provider
  • Why upgrading your fund administrator is easier than you might think

You’ll also discover why some of our clients transitioned to Belasko – and how the seamless and successful move has helped them scale with confidence.

Download the whitepaper today to explore how an upgraded administration model could benefit your business.

If you have any further questions, get in touch with Nick McHardy, Group Head of Funds (nick.mchardy@belasko.com) to discuss how Belasko can simplify and strengthen your operations.

Navigating change: How co-sourcing is reshaping fund administration

As fund operations grow in complexity, a hybrid model known as co-sourcing is gaining traction—especially in key European fund jurisdictions. Co-sourcing combines the strategic control of in-house teams with the operational efficiency and technology of outsourced providers. It’s a model that is becoming increasingly attractive to private capital firms facing mounting pressure around investor transparency, reporting expectations, and regulatory compliance.

In this article, Greg McKenzie and Alice Heald explore why co-sourcing is on the rise across leading fund jurisdictions, the key benefits for managers, and how different regulatory environments—such as the UK, Channel Islands, and Luxembourg—are helping shape this strategic shift.

Why co-sourcing is redefining fund operating models

Co-sourcing enables fund managers to retain control of critical functions—such as investor relations or oversight of NAV calculations—while leveraging external expertise for areas like data management, reporting, and regulatory compliance. This hybrid model offers a tailored operational structure, balancing autonomy and scalability without the rigidity of full outsourcing.

Importantly, co-sourcing is not a one-size-fits-all solution. It often suits mid to large-sized managers who already have in-house infrastructure—such as portfolio systems, experienced teams, or cross-border operational frameworks—that they want to maintain control over. These firms typically seek targeted support to supplement existing operations without relinquishing strategic oversight.

In contrast, smaller or emerging managers—who may lack built-out internal platforms—often benefit more from a fully outsourced model, at least in their early growth phases. The appeal of co-sourcing lies in its ability to adapt to a manager’s specific needs, making it a strategic choice for firms seeking a bespoke approach to operational excellence.

According to Allvue Systems’ 2024 whitepaper[1], “Co-Sourcing for Growth and Control,” 84% of surveyed private capital firms said they are planning to reevaluate their fund administration model in the next 12–18 months—driven by a desire for greater efficiency, control, and responsiveness.

Key benefits of co-sourcing

  1. Enhanced control and strategic oversight

Co-sourcing enables fund managers to safeguard critical functions, ensuring that strategic decisions remain aligned with the firm’s broader objectives. Firms can oversee sensitive processes directly while relying on specialised partners to manage niche tasks. This approach also supports data integrity and ownership. By maintaining core systems in-house, managers can preserve a single source of truth, improve reporting accuracy, and reduce duplication. It enhances transparency, ensures consistent data flows across teams, and supports more informed decision-making.

  1. Operational flexibility and efficiency

By outsourcing only specific tasks, fund administrators are afforded greater flexibility in resource allocation. This model enables firms to optimise costs by reducing the need for extensive internal infrastructure and instead tapping into the specialised expertise available externally. It also streamlines internal bandwidth. Teams can remain focused on value-driving activities while delegating time-intensive operational workflows—ensuring the business scales without introducing bottlenecks.

3. Risk mitigation and data security

Maintaining in-house oversight over strategic areas while outsourcing other elements enables firms to mitigate risks effectively. Co-sourcing reduces the exposure associated with full outsourcing—especially important in areas like data security and regulatory compliance—by keeping sensitive operations internal. This model also enhances regulatory responsiveness. With a clear division of responsibility and direct access to data and process flows, firms can respond to audits, investor queries, or compliance obligations swiftly—an important capability in a jurisdiction like Luxembourg.

  1. Access to expertise

In the rapidly evolving financial sector, expertise in areas such as technology integration, regulatory compliance, and risk management is crucial. Through co-sourcing, fund managers gain access to advanced skills and technologies without having to invest heavily in developing these capabilities internally. As highlighted in the Allvue whitepaper, this model provides a direct route to innovation and operational excellence, ensuring that firms remain competitive even in challenging market conditions[2]. This accelerates adoption of new technologies and best practices. It also allows firms to tap into market knowledge and innovation without losing the strategic context of their internal teams. 

  1. Scalability and adaptability

The co-sourcing arrangement is inherently scalable. It allows firms to adjust the scope of services based on changes in market conditions, business strategy, or internal resource availability. This flexibility is particularly valuable for fund managers operating across multiple jurisdictions, where differing regulatory expectations and operational requirements call for a responsive and tailored approach.

Evolving fund centres and the rise of co-sourcing

Leading fund jurisdictions such as Luxembourg, the Channel Islands, and the UK are seeing continued growth in alternative asset strategies—including private equity, real estate, and private debt. This expansion brings increased operational complexity and is prompting managers to reassess how they structure their operational models.

In Luxembourg, for instance, ALFI data[3] shows that as of February 2025, net assets under management across all regulated funds and AIFs stood at EUR 7,337 billion – highlighting the scale and maturity of its alternative fund ecosystem. The Luxembourg Private Equity & Venture Capital Association (LPEA) has also emphasised the role of strategic partnerships in supporting more efficient and scalable fund operations[4].

Similarly, the Channel Islands continue to serve as a preferred domicile for private capital structures, with Jersey and Guernsey both offering substance-led regimes and strong regulatory reputations. Jersey has developed a well-respected and forward-thinking funds sector with an industry net asset value of £452 billion (as at March 2024)[5] and Guernsey’s thriving funds industry net asset value at the end of December 2024 stood at £290.1 billion[6]. Many managers in these jurisdictions are exploring co-sourcing to retain control over local oversight functions while gaining access to specialist support across reporting, compliance, and investor servicing.

In the UK, a deep base of asset managers and institutional investors—particularly in London—has driven demand for hybrid solutions that balance internal infrastructure with external expertise. This trend is especially relevant for firms managing multi-jurisdictional portfolios or operating under FCA regulation, where operational flexibility and robust data governance are critical.

Across these centres, co-sourcing is emerging as a practical and strategic way to scale operations, enhance governance, and adapt to evolving regulatory and investor expectations.

A strategic shift that’s here to stay?

As fund operations become more complex and investor demands continue to rise, co-sourcing is emerging as a key consideration for many fund managers.This hybrid approach offers managers greater flexibility, improved cost efficiency, and enhanced control over risk—while allowing them to retain oversight of core strategic functions.

Rather than being a passing trend, co-sourcing represents a long-term shift in how fund managers build resilient and scalable operational frameworks. By combining internal expertise with targeted external support, firms across jurisdictions are better positioned to meet the operational demands of modern fund structures—adapting to change while maintaining control.

How we help

At Belasko, we understand the operational and regulatory complexities that fund managers face and we’re working with clients to design and implement co-sourcing models that strike the right balance between internal control and external efficiency.

By combining our deep technical expertise with modern infrastructure, we enable clients to retain strategic oversight while benefiting from tailored support that drives scalability, resilience, and transparency.

We help clients navigate evolving regulatory landscapes, streamline operational processes, and integrate technology effectively—ensuring they remain agile and competitive in a rapidly changing environment.

If you’d like to speak to our team about building a co-sourcing solution tailored to your fund structure and jurisdiction, please get in touch with Greg McKenzie at: greg.mckenzie@belasko.com or Alice Head at: alice.heald@belasko.com.

 

[1] Allvue Co-Sourcing Whitepaper (2024)

[2] Allvue Co-Sourcing Whitepaper (2024)

[3] https://www.alfi.lu/en-gb/pages/industry-statistics/luxembourg

[4] How Co-Sourcing Partnerships are Enhancing Private Capital Funds Operations – LPEA

[5] https://www.jerseyfinance.je/jersey-the-finance-centre/sectors/funds/

[6] https://www.gfsc.gg/industry-sectors/investment/statistics

UK may ease regulation for alternative asset managers

The FCA and UK Government are proposing major regulatory reforms for alternative asset managers in order to promote economic growth.

On 7 April 2025, the FCA[1] and UK Treasury[2] released their highly anticipated consultation papers proposing regulatory reforms for alternative investment fund managers (AIFMs) with a deadline.

With a response deadline of 9 June 2025 and a more detailed consultation planned for 2026, these reforms are set to redefine the regulatory landscape in the near term.

Economic growth

The reason these regulatory reforms are being pursued is to support the UK government[3]  and FCAs[4] strategic priority of economic growth.

As the size of the private markets has tripled over the past decade and with UK AIFMs AUM at £2 trillion there is a big prize to be gained.

Simplification and proportionality

The key objectives behind these proposed reforms are to create a regulatory framework that is simpler, more flexible, and proportionate to the size and activities of individual firms. By reducing unnecessary compliance costs, the FCA aims to foster greater market competition while streamlining the regulatory environment for smaller and mid-sized firms.

Proposed changes include:

  1. Tiered system based on firm size
    The FCA is proposing a three-tier structure for AIFMs, with requirements scaled according to firm size:
  • Large firms – more than £5 billion in assets under management (AuM) by NAV
  • Mid-sized firms – between £100 million and £5 billion in AuM by NAV
  • Small firms – under £100 million in AuM by NAV

    It is important to note that under the current regime the full scope of the regime applies to AuMs above €500m.

 

  1. Clearer and more focused rule sets
    The regulatory framework would be organised into four distinct categories, covering each stage of the investment lifecycle:

    • Structure and operation of the firm
    • Pre-investment phase
    • During investment
    • Change-related

 

  1. Flexibility for different activities
    Instead of applying rigid rules across the board, the new framework would allow regulations to be tailored to the activities of the firm, ensuring that rules that are not relevant to the activities of a firm do not apply.

 

  1. A dedicated venture capital regime
    Recognising the unique characteristics of venture capital investments, the FCA is considering a bespoke regulatory regime for VC firms, helping to support innovation while ensuring appropriate oversight.

What does this mean for AIFMs?

The proposed changes present both opportunities and challenges for UK AIFMs. While the simplification of rules could reduce operational costs and compliance burdens, firms will need to adapt to the new framework and understand how to effectively navigate the evolving landscape.

As the consultation period progresses, it’s clear that these reforms aim to position the UK as a competitive hub for alternative asset management, with a focus on growth and innovation. At Belasko, we’re committed to helping our clients stay ahead of regulatory changes and leverage the benefits of a simplified regulatory environment.

We would be delighted to hear your view on how the proposed changes could impact your business. If you’d like to discuss further, please get in touch with Nick McHardy, Head of Funds.

[1] Source FCA –  https://www.fca.org.uk/news/press-releases/rules-investment-managers-be-reformed-support-growth

[2] Source UK Government – https://www.gov.uk/government/consultations/alternative-investment-fund-managers-regulations-consultation

[3] Source FCA – https://www.fca.org.uk/publication/correspondence/fca-letter-new-approach-support-growth.pdf

[4] Source – FCA – https://www.fca.org.uk/news/press-releases/fca-launches-5-year-strategy-support-growth-and-improve-lives

 

Intense Competition, High Expectations: What’s Next for Private Credit?

The recent BVCA Private Credit Conference in late March brought together industry leaders, fund managers, and institutional investors to discuss the evolving dynamics of the private credit market.

Nick McHardy, our Group Head of Funds, joined the event and, as we continue to support our clients across the alternative assets space, shares several key themes and insights that stood out from the event.

  1. Private credit enters its maturity phase

Private credit is no longer the “emerging” asset class it once was. With assets under management surpassing $1.7 trillion globally, and forecasts pointing towards continued growth, the market is showing signs of maturity.

The sector maturity is resulting in increased competition, requiring managers to differentiate themselves such as through origination capabilities, sector specialisation, retailisation and value-added borrower support.

There was extensive panel discussion over the relationship that Private Credit managers have with Banks with an overall consensus toward symbiosis.

Private Credit managers and banks may compete within the mid-market and institutional lending space however they have very different priorities and a very different risk appetite so their products and offering are often complementary or conversely offer a different type of solution to borrowers increasing market liquidity.

In the upper market, as there are now very large private credit funds looking to deploy, this has blurred the distinction between what a bank would typically lend compared with private credit.

  1. Shift from opportunistic to scalable and repeatable models

One of the most discussed evolutions is the shift in strategy from opportunistic, deal-by-deal lending to scalable and repeatable credit strategies. This trend reflects LP preferences for consistency, predictability, and operational efficiency.

This is unsurprising given the investor mix shifting away from the domination of institutional drawdown fund routes with roughly half of global fundraising in 2024 sourced from perpetual vehicles in wealth and insurance segments[1].

Fund managers are responding by building more institutional-grade platforms — complete with enhanced technology stacks, deeper origination pipelines, and a broader geographic footprint. The emphasis is on building businesses that are resilient across cycles.

  1. Return expectations and risk appetite adjust

In an environment of higher base rates, return expectations have recalibrated and spreads have reduced.

Average direct lending spreads have decreased from c625 Bps in 2022 to 550 Bps in 2025 YTD and repricing activity reached an all time high in Q1 2025 where borrowers are able to shave off spreads.

  1. Fundraising is challenging despite the headline capital raise

There was much discussion around fundraising, however it is apparent there is a very polarised market with the very large managers increasing their fund sizes whilst the more modest managers fight to compete in an increasingly competitive market.

The number of funds closed in 2024 showed a YoY decline of 50% whilst institutional flows into private debt funds will exceed $200 billion for the fifth consecutive year.

  1. Technology and data driving operational edge

Digitisation was another recurring theme. Private credit managers are investing in technology to streamline portfolio management, improve data visibility, and deliver transparent investor reporting. As platforms scale, operational efficiency and real-time insight become critical to maintain investor confidence and regulatory compliance.

At Belasko, we’re seeing first-hand how best-in-class technology enhances the fund lifecycle — from onboarding and reporting to compliance and ongoing NAV support.

  1. ESG integration continues as expectations climb

While ESG remains an ever-increasing strategic priority for many investors and managers, several speakers noted the challenge of standardising ESG metrics and reporting in private credit. Unlike equity investments, where governance rights are stronger, credit investors must work harder to influence borrower behaviour and track ESG performance.

Nevertheless, the direction of travel is clear: ESG integration will remain a core pillar to fundraising and regulatory scrutiny.

Looking ahead

The private credit market continues to evolve at pace, blending attractive returns with increasing complexity.

As the sector matures, fund managers will need to balance growth and responding to market opportunity with operational effectiveness through embracing technology.

At Belasko, we have the expertise, technology and service quality to support our clients through this exciting phase — offering the operational and strategic infrastructure required to scale with confidence.

If you’d like to discuss how Belasko can support your private credit strategy, please get in touch.

 

[1] Source: Pitchbook 2024 Annual Global Private Debt Report

The Unintended Consequences (and Opportunities) of Trump’s Trade Wars: A Private Equity Perspective

Trade wars are nothing new and the era of Donald Trump’s trade wars started in 2018, during his first term. Primarily focused on steel and aluminium and phrased in terms of protecting the U.S.’s national security interests, this initial foray into trade tariffs targeted China in the main, with Mexico, Canada and the EU also feeling the impact.

But as the U.S. aggressively pursues new tariffs under the new Trump administration’s economic strategy, the global investment landscape is witnessing seismic shifts. Nothing, and no country, it seems, is outside of scope and retaliatory actions suggest that the impact will not be short lived. The Trump Administration has hinted that it is accepting of stock market volatility in pursuit of what it sees as its national interests, at least in the short term. But with this backdrop, are we facing a more prolonged period of trade tensions that will fragment global free trade principles?

Private Equity (PE) has played an increasingly significant role in global financial markets over the last quarter of a century and investor appetite remains very strong. But PE fund managers must now navigate an evolving terrain marked by heightened market volatility, shifting trade dynamics, and unforeseen economic consequences. While risks abound, those with strategic foresight and ample dry powder may find unique opportunities amid the chaos.

Direct impact of U.S. tariffs on private equity

The imposition of U.S. tariffs on key imports—ranging from steel and aluminium to semiconductor components—has created ripple effects throughout global financial markets. Private markets are not insulated from these effects and PE-backed portfolio companies in manufacturing, technology, and consumer goods now face higher input costs and compressing margins, forcing operational recalibrations.

In general, increased production costs will lead to a wave of strategic restructuring considerations, with firms exploring reshoring, alternative supply chains, and cost-cutting initiatives to mitigate the impact. However, the prolonged uncertainty surrounding trade policies will hamper investment confidence, delaying expansion plans and prompt portfolio reassessments.

Sector-specific PE exposure

Recent data underscores PE’s significant exposure to the sectors most vulnerable to trade tariffs:

  • Manufacturing: The year’s start for sectors like industrials and manufacturing has dropped to decade lows with only 170 deals recorded so far in 2025 compared to 252 in the same period 2024[1]. This decline is partly due to growing uncertainty about tariffs, as dealmakers are increasingly cautious about taking on tariff-related risks. As trade policies remain volatile, many buyers are hesitant to engage in deals that could be impacted by changing tariff regulations.
  • Technology: Software and technology services are particularly vulnerable in specific areas:
    • Semiconductors: Existing U.S. tariffs on Chinese semiconductor components introduced under the Biden administration have increased costs for chip manufacturers and downstream industries relying on advanced computing technologies. The Trump administration’s proposed changes to the CHIPS and Science Act, including potential tariffs on the semiconductor industry, have raised concerns about increased costs for consumers and potential hindrances to AI sector growth due to higher chip prices[2]. Additional tariffs hinted at under President Trump will be particularly concerning for AI startups, cloud computing providers, and automotive technology firms.
    • Hardware manufacturing:  Companies producing laptops, networking equipment, and telecom infrastructure face increased costs due to tariffs on imported components. Anticipating tariff hikes in the aftermath of the U.S. elections, companies like Microsoft, HP, and Dell have been stockpiling Chinese-made electronic components and exploring alternative manufacturing locations to mitigate potential cost increases[3]. PE-backed firms with significant exposure to hardware may struggle to maintain profit margins.
    • Telecommunications and 5G: Restrictions on Chinese telecom suppliers and increased tariffs on network equipment have disrupted expansion plans for telecommunications providers. Telecom equipment manufacturers are facing significant challenges due to the tariffs, complicating planning and operations[4]. PE-backed firms in this space may face challenges in infrastructure rollouts and cost escalations.

While the broader tech sector is affected, Software as a Service (SaaS) companies and digital-first businesses remain relatively insulated. Many PE firms with technology exposure have leaned into software acquisitions, avoiding tariff-sensitive hardware businesses.

  • Consumer goods: Although buoyant in Q4 2024 with twice as many deals announced (377) against the previous quarter[5]. Consumer goods remain exposed to the effects of tariffs, with beverages being a particular target at the moment. Add to this the cost-of-living impact of higher inflation from prolonged trade disputes will leas to increasing headwinds for the sector, impacting valuations and deal volume.
  • Automotive: PE-backed deals surged by 85% in the U.S. and globally, driven by investor confidence in sectors like automation and capital equipment. The automotive sector also saw significant growth, with PE buyouts reaching $22 billion in the second half of 2024, a nearly 250% increase from the first half[6]. However, the sector now faces renewed uncertainty following the recent announcement of a 25% tariff on car and car part imports, which could impact supply chains and investment sentiment.

While many PE managers are exposed to these industries, others maintain portfolios that are more insulated. Firms with diversified holdings in sectors less affected by tariffs – such as healthcare, professional services, and software-as-a-service (SaaS) – may experience fewer headwinds. This resilience underscores the importance of portfolio composition in mitigating trade-related risks.

The impact of reciprocal tariffs and global trade retaliation

The retaliatory tariffs imposed by China, the EU, and other trading partners have added further complexity. U.S. companies heavily reliant on exports—particularly in the agriculture, automotive, and industrial manufacturing sectors—face declining international sales and profit erosion. For PE firms invested in these sectors, this could translate to valuation pressures and prolonged holding periods.

Moreover, the broad-based impact on multinational supply chains has led to a reassessment of cross-border investment strategies. Foreign direct investment in the U.S. totalled $72.5 billion in the third quarter of 2024, down 23% over the second quarter of 2024[7], reflecting a cautious stance among international investors. Such shifts could limit exit opportunities for PE firms looking to offload assets to global buyers.

Indirect impacts: Macro factors, IPO market, and M&A activity

Beyond the direct effects, a prolonged trade war could trigger broader macroeconomic consequences that PE fund managers must contend with:

  • Market volatility and investor confidence: Equity markets remain volatile amid inflation concerns, economic slowdown fears, and recent U.S. tariffs on key trading partners. To characterise this, the S&P 500 reached an all-time high in February 2025 only to fall by over 10% by mid-March, largely due to steel and aluminium import tariffs. Over the same period (February to March) the Consumer Confidence Index fell from 100.1 to 92.9, its lowest point since January 2021 and fourth consecutive monthly decrease but for a late revision to the February number. This doesn’t bode well for investor confidence and will likely lead to slower decision making.
  • IPO market hesitancy: The uncertainty surrounding trade policies has dampened an already subdued IPO market, which could cause major private companies—including AI-driven and tech firms—to delay their public offerings. The VIX Volatility Index (also known as the Fear Index!) exceeded 27 in early March, representing one standard deviation from long-term averages, underscoring heightened investor anxiety.
  • M&A slowdown: Recent data indicates a significant decline in global M&A activity, influenced by rising uncertainty and geopolitical tensions. As of the end of the first quarter of 2025, announced deals have decreased by nearly 30% compared to the previous year, marking the slowest deal activity in over a decade[8]. While well-capitalised firms remain active, mid-market transactions have slowed as sellers hesitate to accept lower valuations.

Opportunities amid the chaos: deploying dry powder and capitalising on dislocations

Despite these headwinds, PE firms with high levels of dry powder—estimated at $2.5 trillion globally—are uniquely positioned to capitalise on market dislocations. Distressed asset opportunities are emerging, particularly in tariff-exposed industries where valuations have compressed. Fund managers with sector expertise and rapid deployment capabilities can execute value-driven acquisitions at attractive multiples.

Additionally, the shifting trade landscape is fostering domestic investment opportunities. Companies seeking to mitigate tariff risks are reshoring operations, fuelling demand for infrastructure investments, logistics hubs, and localised supply chain solutions. PE firms focusing on these trends may benefit from government incentives and evolving industrial policies.

Risks for future capital raising

While opportunities exist, the prolonged trade conflict introduces risks to future capital raising. Institutional investors may adopt a more cautious stance, scrutinising fund performance amid heightened volatility. Fundraising cycles could lengthen, particularly for firms with exposure to tariff-sensitive industries.

Moreover, the macroeconomic implications of sustained trade conflicts—including potential recessions, higher inflation, and tighter monetary policies—could dampen investor appetite. As of early 2025, 60% of LPs surveyed in PEI’s LP Perspectives Study 2025[9], indicated concerns about deploying fresh capital in an uncertain geopolitical environment.

Strategic considerations for PE fund managers

To navigate the complexities of Trump’s trade wars, PE fund managers should:

  1. Reassess portfolio exposure: Conduct stress testing on tariff-sensitive sectors and adjust risk mitigation strategies accordingly.
  2. Maintain exit flexibility: Explore alternative exit routes beyond IPOs, including secondary buyouts, strategic sales, and recapitalisations.
  3. Identify opportunistic deployments: Leverage dry powder to acquire undervalued assets in disrupted industries.
  4. Engage with investors proactively: Maintain transparency with LPs regarding trade war implications and potential mitigation strategies.

While the unintended consequences of Trump’s trade policies pose significant challenges, they also present unique opportunities for private equity firms with the agility to adapt. Navigating this landscape requires a combination of strategic foresight, disciplined capital deployment, and proactive portfolio management. Those who can seize emerging opportunities while mitigating risks will position themselves for long-term success in an evolving global economy.

At Belasko, we recognise the complexities and evolving risks that private equity managers must navigate in the wake of shifting global trade policies. We stay informed on the latest developments and the potential impacts on our clients and their investment strategies. If you’d like to discuss further, get in touch with Paul Lawrence, Managing Director (paul.lawrence@belasko.com).

 

 

[1] https://pitchbook.com/news/articles/ever-changing-tariffs-keep-pe-firms-on-edge

[2] https://apnews.com/article/trump-semiconductors-chips-act-3592f1ed8b8cd4f2145cfa8a4985046c

[3] https://technode.com/2024/11/28/microsoft-hp-and-dell-stockpile-chinese-electronic-components-ahead-of-potential-trump-tariffs/

[4] https://www.fierce-network.com/broadband/will-telecom-be-priced-out-trumps-tariffs

[5] https://pitchbook.com/news/reports/q4-2024-consumer-retail-services-report

[6] https://ionanalytics.com/insights/mergermarket/industrial-ma-soars-in-2024-fueled-by-2h-surge-in-private-equity-north-america-industrials-trendspotter/

[7] https://globalbusiness.org/wp-content/uploads/2024/12/3rd-Q-2024-FDIUS.pdf

[8] https://www.ft.com/content/d90add7b-c884-41a8-b4c9-d7dd72adac18

[9] https://www.privateequityinternational.com/lp-perspectives/

Breaking Barriers: Women in Finance, Confidence, and Ideal Superpower!

We spent some time sitting down with Jessica Savery, a Funds and Corporate Officer based in Belasko’s Luxembourg office to discuss some important topics relating to International Women’s Day.

Having started her career with us as an Administrative Officer, she has quickly worked her way up over the past two years. In this interview, she shares her insights on the evolving landscape for women in finance, the importance of self-advocacy, and how everyone—regardless of gender—can play a role in driving positive change.

Do you think experiences have improved for women working in the financial services industry since you started your career?

My career compared to many other women, is much shorter than them. I’ve only been working for two years now officially. However, I’ve been involved in the financial industry for going on 10 years now via various internships and participation courses at university. I think women in the industry, not only in the financial services but in the corporate world in general, have had a massive shift. This is in part due to reasons like social changes and economic changes which have allowed for more flexibility.

One thing I just wanted to like touch upon is the difference between integration and acceptance into the workplace. For decades now, women have been integrated into the workplace where we have laws and mandates saying we need a certain number of women on the board or a certain number of women in the company as a whole, whereas now, over the past five or so years, we’re seeing more of an acceptance. We’re accepting women being in the senior roles. We’re seeing more women in senior leadership. We’re seeing more female managers. We’re seeing more mentorship programmes to support and empower female future leaders.

So for me, I think over the past ten years in the financial services industry, there’s been an acceptance towards women that allows us to not only participate, but show off our strengths and get involved in a much more value-add way across different aspects of the industry.

What advice would you give to women entering the industry today looking to breakthrough and drive?

I would say first and foremost is to be your own voice, because no matter what industry you’re in, people will always try to help but realistically the only person who can really help you the most, is yourself. You have to be your own voice. You have to be your own advocate. If you know you want a certain position or promotion, work towards it and say why you deserve it. If you know that you have good ideas and you want to implement them, be confident, be yourself, speak your truth and do what you can.

On the flip side, we can’t do everything alone, which is why you need to build a trusted support network around yourself. Find a mentor, be a mentor, have colleagues that you can speak to both on a personal and professional level so that nothing gets too overwhelming and you can always have a sounding board.

How can individuals, regardless of gender, play a role in driving change?

For me, that would be many different things and there’s not one clear answer on how to do this. To be a change you don’t actually have to do something, you just have to act differently or think differently as well as to advocate for inclusivity and equality.

That’s the thing about feminism that a lot of people seem to mix up. Feminism isn’t about women wanting to be seen more or heard more. Feminism is about women wanting to be acknowledged and treated equally to men, and that’s one way everyone can be more inclusive of feminism, regardless of their gender. By being inclusive, by speaking out, by encouraging everyone to participate, regardless of their class, their gender, their views, everything.

Another thing I think is important is to stop gender biases, stereotypes, that type of thing. Naturally, I think a lot of us have pre-set conceptions on people that hold us back. For example, if we have two competent people looking to take on more responsibility in a team. One’s a boy. One’s a girl – but the girl is also a parent. Some people may naturally think, “let’s give the additional responsibility to the boy instead of the girl because they (the girl) may have additional commitments”. We need to just assume everyone’s happy to do everything. And if someone isn’t, they should be able to speak up and let us know.

What advice would you give your younger self?

Advice I would give my younger self would be to trust myself more. I would try not to give into impostor syndrome or say I don’t belong or deserve to be here. We all had to get the same qualifications, go through the same recruitment process, be interviewed by the same groups of people that end up in the company you work for. If we’ve gone through all of that and got the job, we deserve to be here, so there’s no reason to doubt yourself. That’s the first thing I would tell my younger self that everything works out for a reason. And if you put in the work, it will show.

Another thing that I would like to tell my younger self is to take more risks. Sometimes it’s not just doing as you’re told. Sometimes it’s analysing the situation. If someone tells you to do something and it’s within your power, do it, but also think what the implications of this, what’s the long-term plan of this? Is there a different way we could do this that could not only help myself but help the business and help the client?

Just stay true to yourself and take more risks.

If you had a superpower, what would it be and how would you help others with it?

If I had a superpower, it would be the ability to instantly understand and communicate in any language.

If there’s something we know for sure in Belasko, it’s that borders don’t really mean much to us, and different jurisdictions don’t mean much to us. We are an international community, who are always talking to different people on all corners of the earth. We have clients everywhere. Our teams are based across Jersey, Guernsey, UK and Luxembourg. We speak a lot of French, German, Luxembourgish and English.

If I could just understand everyone in the language or communication style that they’re most comfortable speaking in, I think it would be so useful not only for myself, but for everyone around us to feel more comfortable and avoid any miscommunications.

For me, that would be my dream superpower.

How Women Can Support Other Women in the Workplace: A Blueprint for Collective Success

Mariam Sunmonu, CDD Analyst based in our UK office, shares her blueprint for collective success when it comes to women supporting women in the workplace.

“A woman is a woman’s worst enemy, they say. “A woman is a woman’s greatest ally”, they also say. Before we dig deep into this mind-stimulating topic, I would like to ask my readers what would you prefer to be known as?

It’s exciting to know that we now live in an era where women are breaking barriers and redefining leadership across various spheres of life. Amidst this development, it is important to stress the advantages of women supporting other women in the workplace, most importantly to maintain and increase this achievement.

On the one hand, we have had situations where a women can support through mentoring, advocating for equal opportunities, amplifying each other’s voices, and fostering a culture of collaboration; examples are Lilly Ledbetter who advocated for equal pay, Tarana Burke who started the Me-Too movement, and many others that have not been publicised.

On the other hand, without intending to be stereotypical, you may agree with me that women can often compete against one another. Even with friendships, we find out that the most common reason for many disagreements amongst the womenfolk can be jealousy of another woman’s success or achievements.

The subconscious notion of competition tends to overshadow the power of collaboration. Yes, competition is good! And that’s one of the reasons why we have events and shows that encourage healthy competition. However, competition becomes a plague when it hinders true progress, especially in the women’s world. Hence, a need to foster the idea of women uplifting, empowering and advocating for one another.

Here’s a fresh perspective on how women can create a workplace culture where everyone thrives.

  1. Redefining competition by making collaborative accomplishment the goal

As mentioned at the beginning of this write-up, woman can be a woman’s greatest ally and vice versa. What aids allyship is collaboration, however, the thief of collaboration amongst women is unhealthy competition. I stumbled upon a thrilling and thought-provoking movie towards the end of last year titled – ’The Six Triple Eight’. This movie taught me that as humans, no matter how insignificant or exceptional we perceive our gifts, abilities and talents, one thing is for certain: in any environment we find ourselves and in whatever numbers, we are there to serve a collective purpose. Our gifts can only be utilised to their fullest if and when we work together. And the purpose of our existence in that environment should always be the driver of every decision and action we take, not our selfish ambition which leads us to unhealthy competition.

I also learned that when one woman achieves, it should pave the way for other women to grow and achieve, refining her mindset from competition to collaboration. Also, it’s okay to celebrate each other’s wins, and acknowledge that one woman’s success or achievement does not diminish or block one’s own.

  1. Dealing gracefully with one another’s strengths and weaknesses

Through my personal experiences, I’ve discovered that when a woman acknowledges another woman’s abilities, women improve in those areas. A woman, as an emotional human, can suffer when her weaknesses are critiqued by another woman; similarly, a woman will improve when she is supported by another woman in her weaknesses.  This is because, in most circumstances, only a woman understands a woman’s struggle.

This aspect also reminds me of a scene from the Six Triple Eight movie. It’s reassuring to see how a woman can let another woman display her genuine light without first considering how the deed would negatively affect them.

  1. Challenging biases—even your own

Unconscious bias doesn’t just come from men; women too engage in biases that work against other women in the workplace. We should aim to recognise and challenge biases in hiring, promotions, and evaluations. Speak up if you see another woman being maligned, sabotaged, disregarded or not getting due credit for her ideas in respective teams and in general. By calling out these issues, you contribute to a fairer and more inclusive work environment.

Also, one of the simplest yet most effective ways to curtail workplace bias and support women in the workplace is to ensure that they are heard. If a woman’s idea is overlooked in a meeting, amplify it. If a colleague is hesitant to speak up, create space for her. Women backing each other in professional settings ensure that contributions are acknowledged and valued.

  1. Building a strong professional network that aids mentorship and sponsorship

Women need powerful networks just as much as men do. We can create, as well as join, women’s professional groups, mentorship circles, or industry associations where women can exchange opportunities, resources, and support. A well-connected woman can open doors not only for herself but for others. This can further be made a norm for generations to come rather than a work in progress.

Mentorship is valuable, but sponsorship goes a step further to making the human development process more effective. While mentors offer guidance and advice, sponsors actively advocate for a woman’s growth by recommending her for promotions, leadership roles, and high-impact projects.

Women in leadership positions can play a crucial role in ensuring that upcoming talent gets recognised and nurtured. This may seem risky as nobody wants to recommend or sponsor a person they don’t fully trust or do not consider having an impeccable potential for growth.

However, life in general is full of risks. For example, if your child isn’t doing well, do we stop investing in the child’s life because of their inadequacies? I would assume that, if the child shows readiness to learn and grow, most of us will do our best to provide the child with all the resources they need to grow. If they don’t show readiness, they can be motivated and supported. Therefore, women in leadership positions can endeavour to invest in other women who show readiness to develop their skills by sponsoring actively and advocating for their growth.

  1. Normalising work-life balance without guilt 

First, I must say, well done Madam “Jack-Of-All-Trades”. A pat on your back for all you do. Most likely half, if not most, of the population of women at work fit into most of these roles: the role of a mother (birther, carer and nurturer), wife (lover, companion and help mate), friend (mutual companion and affection), sister, companion, carer, daughter, worker, counsellor, etc.  So, I say… Hey, girl, take care of yourself!

Women often face pressure to “do it all,” juggling work and personal life with so much zeal for the fear of being judged. Instead of drowning yourself with the unrealistic expectation of perfection, create a culture where work responsibilities do not make you live miserably.

Encourage flexible schedules, share workload strategies, evaluate your mental status by taking a break or a step back when needed and avoid judging another woman who prioritises personal commitments.

  1. Recognise the power of small gestures and advocate for equal pay and opportunities

Support does not necessarily need to be great. Simple actions, such as publicly appreciating a colleague’s contribution, expressing encourage before a major presentation, or advocate for a co-worker in a tough situation, can have a significant influence. Small acts have a rippling effect that promotes the overall company culture.

An example of helping other women is to advocate for equal pay and opportunities. If you can negotiate your compensation, set a precedent by advocating for what you deserve, encouraging others to do the same, or serving as a voice for people who lack confidence to speak up.

  1. Not aiding or having a ‘Queen Bee’ mentality

The ‘Queen Bee’ syndrome, whereby women with great influence in the workplace isolate themselves from junior women rather than boosting them is damaging. Leadership is about paving the way for others. Instead of viewing younger women as competitors, consider them the next generation of leaders. Provide advice rather than resistance. ‘Be the change you want to see’ is a cliché, but it’s true. Supporting other women entails not only large-scale projects, but also daily activities. Set an example by being the co-worker, mentor or leader you would like to have. Your influence, whether via words, lobbying, or actions, can have a long-term impact on other women’s careers and confidence levels.

My final thoughts…

Empowering women in the workplace is about more than simply personal success; it is about communal advancement. When women help one another, everyone benefits, businesses grow, workplace culture improves, and the route for future generations is smoother. It’s time to change from competition to collaboration and build a culture in which women unabashedly support one another.

Author: Mariam Sunmonu, CDD Analyst, UK