Tue, Dec 23, 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. Investing - Big hedge funds win again on PetSmart, Riverbed, RBS sells real estate loans to hedge fund Cerberus, Talisman energy speculation: Which hedge funds could benefit?[more]

    Big hedge funds win again on PetSmart, Riverbed From CNBC.com: Another week, another set of wins for activist investors. On Sunday, pet supply retailer PetSmart agreed to the largest leveraged buyout of the year at $8.7 billion. Hedge fund firm JANA Partners had been pushing for a sale a

  2. Outlook - Hedge fund manager who remembers 1998 rout says prepare for pain, Bond guru Bill Gross predicts U.S. economic growth to dip to 2%[more]

    Hedge fund manager who remembers 1998 rout says prepare for pain From Bloomberg.com: Stephen Jen landed in Hong Kong in early January 1997 as Morgan Stanley’s newly minted exchange-rate strategist for Asia. He was soon working around the clock when investors began targeting the region’s

  3. Investing - Hedge funds get boost from healthcare in 2014, Paulson & Co takes stake in Salix on heels of inventory issues[more]

    Hedge funds get boost from healthcare in 2014 From Valuewalk.com: The healthcare sector started the year on a turbulent note, as stocks of many major biotechnology companies were battered. However, most of the players in this sector have bounced back. The BarclayHedge Healthcare & Biotec

  4. North America - Why Steve Cohen, Connecticut hedge fund billionaire, gives so much in New York[more]

    From Insidephilantrophy.com: Billionaire Steve Cohen was born in Great Neck, New York before attending Wharton, working on Wall Street and then founding SAC Capital Advisors in Connecticut. Though his company (Point72) and foundation are based in Connecticut, Cohen and Alexandra are deeply connected

  5. Investing - Soros buys a highly speculative biotech in the third quarter[more]

    From Fool.com: …The Soros Fund bought 25,000 shares of the struggling small-cap biopharma Aegerion Pharmaceuticals in the third quarter. For those of you who haven't heard of this name, suffice to say that this was a surprising buy in light of the company's recent problems and poor outlook going for