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Alternative Market Briefing

Cayman strives to remain competitive, now has more than 10,000 registered funds

Tuesday, January 22, 2013

Ingrid Pierce
From Komfie Manalo, Opalesque Asia:

The Cayman Islands reported a surge in hedge funds registrations in 2012 largely because of the new regulatory requirement to register master funds, said Ingrid Pierce, managing partner at global law firm Walkers during the recent Opalesque Cayman Roundtable.

"There are now well over 10,000 registered funds and we will see how it looks at the end of the first quarter of 2013, as there are usually some terminations at this time of year when people do restructurings or deregister their funds," Pierce told the participants.

She went on to say, "Overall new funds have been a bit slower to launch; it seems to be taking longer for people to raise capital. Still, we have quite a lot of new funds in the pipeline for the first quarter of [2013], so we are pretty positive. There is a lot of activity in Asia, but we are also getting a significant number of inquiries from the U.S., especially for start-up funds. A lot of these new managers launch with a relatively low asset base, but that isn't stopping people from going offshore, which is a good indicator of what's to come."

But Pierce remains bullish on the alternative space’s prospects saying there is a lot of potential for more business, as all jurisdictions are expected to do whatever they can to make it......................

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