Mon, Jul 28, 2014
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. Events – AIMA Australian Hedge Fund Forum, Sept. 16, Sydney[more]

    AIMA Australia invite you to join us at our annual Hedge Fund Forum on Tuesday 16th September 2014 at the Sofitel Sydney Wentworth. The AIMA Australian Hedge Fund Forum is a non-profit hedge fund conference organised by the industry for the industry, featuring quality Australian and internation

  2. Opalesque Roundtable: Success in hedge fund marketing not linked to performance, but investor appetite[more]

    Komfie Manalo, Opalesque Asia: Success in marketing a fund is not linked to the performance, but to investor appetite, to the way you can market the fund, and to how much time you can spend to raise assets, said Antoine Rolland, the CEO of incubator and seeding firm

  3. Opalesque Exclusive: Loeb, Grantham cite growing economic concerns in letters[more]

    Bailey McCann, Opalesque New York: Hedge fund manager Daniel Loeb, head of Third Point, and Jeremy Grantham of Grantham, Mayo, Van Otterloo & Co. have both released their quarterly investor letters today. While news is positive on some fronts, and both men see pockets of opportunity, they also h

  4. Investing – Hedge funds expect Netflix earnings to catapult forward, Third Point's Loeb takes stakes in Fibra Uno, YPF, Royal DSM, Lake Capital in talks to back Engine Group[more]

    Hedge funds expect Netflix earnings to catapult forward From Investing.com: Netflix has made major strides forward in 2014 despite ongoing battles with the FCC and cable companies over the issue of net neutrality. The FCC has now received over 500,000 comments from the public on its pend

  5. Hedge fund manager Winton Capital making headway with long-only strategy[more]

    From PIonline.com: North American investors are helping Winton Capital Management Ltd. make progress — albeit slowly — toward its founder's goal of becoming a $100 billion company. The firm's ticket to quadrupling its assets under management is unlikely to be one of its scientifically designed manag