Tue, Sep 30, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Hedge fund Universa moves to Miami

Wednesday, February 19, 2014

Bailey McCann, Opalesque New York:

The hedge fund Universa Investments is moving its headquarters to Miami from southern California. Principals within the firm say the move is tied to Miami's friendly tax and business rules. Universa is the first large hedge fund to make the move since Miami’s Downtown Development Authority (DDA) launched their Finance Sector Initiative in October to draw more financial firms to the city.

At our recent Opalesque Miami Roundtable, delegates noted the city's close proximity to the growing LatAm region, along with business friendly policies. Universa Investments is an investment management firm founded by Mark Spitznagel that specializes in equity tail hedging.

The Finance Sector Initiative of October of 2013, involves targeted one-on-one outreach to hedge funds, hosting events that will put Downtown Miami in front of financial executives, and forming strategic alliances with industry leaders. Spitznagel said he plans to expand Universa from 14 to 25 employees in the next three years.

"Florida’s business-friendly policies, which are so different from California's, offer the perfect environment for us as we expand," said Spitznagel, founder and CIO of Universa Investments. "I would expect to see more firms like Universa voting with their feet and relocating to a more hospitable business and tax environment, especially as many local governme......................

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. Socially responsible investments grow in demand, but performance questions persist[more]

    Komfie Manalo, Opalesque Asia: A study by financial services firm TIAA-CREF showed that interest in socially responsible investing (SRI) is increasing rapidly, but investors are still asking if investing in an SRI strategy

  2. Regulatory - Ireland launches structure for passporting loan origination funds within EU[more]

    From Asiaasset.com: The Irish Funds Industry Association (IFIA) has introduced new loan origination capabilities that will offer Asian managers and investors a new structure under the European Union’s (EU’s) Alternative Investment Fund Managers Directive (AIFMD). The new structure will allow the mar

  3. Europe - Ed Miliband's war on hedge funds could damage City of London[more]

    From Telegraph.co.uk: Ed Miliband’s plans to wage war on hedge funds could be potentially more damaging to the City of London than even the financial transaction tax (FTT), senior banking sources warned on Tuesday night. The Leader of the Opposition took aim at a number of industries as part of his

  4. News Briefs - SEC probes Pimco ETF over pricing irregularities, BEPs: Action plan released and UK first to adopt country-by-country reporting[more]

    SEC probes Pimco ETF over pricing irregularities The Securities and Exchange Commission is investigating Pimco’s pricing of exchange traded funds, the latest cloud to hang over the world’s largest bond manager, which has been dogged by poor performance and management infighting. Pimco on

  5. CalPERS’ move might alter hedge fund fees for good[more]

    Benedicte Gravrand, Opalesque Geneva: When CalPERS, the California Public Employees’ Retirement System, announced on September 15th that it was unwinding its hedge-fund portfolio, it was seen by many as is a significant blow to the sector’s appeal. The Fund is