•  
• Tweet
•  
•        Print
•  
•         Track Keywords
•  
• 

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