Sun, Feb 7, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Brazilian market prefer Cayman Island-structured offshore funds

Friday, December 20, 2013

Komfie Manalo, Opalesque Asia:

The Brazilian market prefers offshore funds that are set up in the Cayman Islands because of tradition and marketing, said said Martin Litwak, founder of Litwak & Partners, an offshore law firm that specializes in Latin America, in the latest Opalesque Brazil Roundtable.

"Cayman law firms were the first in marketing their services in the country and to creating bonds with local lawyers and banks," Litwak said and added, "This has led to a preference with the first managers to set up offshore in Cayman over other jurisdictions. Managers who are launching tend to repeat what others have done in the past, which perpetuated that trend. That is why managers in Brazil prefer a Cayman to a BVI fund, which is a more flexible and cheaper jurisdiction. Funnily enough, if we take a look at the whole region, this preference appears only in Chile. All the rest of the countries prefer the British Virgin Islands."

He made the comments after Thalius Hecksher, global managing director of business development for Apex Fund Services, a worldwide provider of fund administration services, said that offshore funds were starting to become more popular within the Brazilian market.

Litwak added that another trend that he is seeing in the region is that fund managers in Latin America have started shifting from pla......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. How Einhorn survived a nightmare year[more]

    From Bloomberg.com: Even when a hedge fund has an awful year, which was the case for David Einhorn's Greenlight Capital, there are lessons to be learned. Many funds would have had a tough time surviving a year like Einhorn experienced in 2015, when all the stars seemed to align against him and Green

  2. Legal - Hedge fund founder wins early release in U.S. insider trading case, Gramercy seeking $1.3 billion from Peru over land-bond dispute[more]

    Hedge fund founder wins early release in U.S. insider trading case From Reuters/Streetinsider.com: Former hedge fund manager Doug Whitman on Tuesday won a reprieve from serving the remainder of his two-year sentence for insider trading after several judges expressed skepticism that his 2

  3. Investing - David Einhorn finds a winner in Michael Kors[more]

    From Thestreetinsider.com: Greenlight Capital hedge fund manger David Einhorn took his lumps in 2015. The fund lost over 20 percent on the year amid bets gone bad being long a plunging SunEdison and short a couple high-flying FANG stocks. However, today Einhorn is again showing his stock picking pro

  4. Investing - Avenue Capital's Marc Lasry: We like European bank loans, Comment: A bunch of hedge fund managers are chasing the 'dream of crushing a major structural problem'[more]

    Avenue Capital's Marc Lasry: We like European bank loans From CNBC.com: European banks are under immense pressure, but at least one prominent hedge fund has found what it thinks is a good opportunity in the wreckage. Marc Lasry, co-founder and chief executive of hedge fund Avenue Capital

  5. Computer-driven hedge funds make money during January’s selloff[more]

    Komfie Manalo, Opalesque Asia: Commodity trading advisers (CTAs) that use computer programs to guide how they trade, made millions of dollars during last month’s market selloff on the back of declining oil prices and global equities and big moves in currencies. Data provider