Fri, May 6, 2016
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. Comment - Unmasking the men behind Zero Hedge, Wall Street's renegade blog[more]

    From Bloomberg.com: Colin Lokey, also known as "Tyler Durden," is breaking the first rule of Fight Club: You do not talk about Fight Club. He’s also breaking the second rule of Fight Club. (See the first rule.) After more than a year writing for the financial website Zero Hedge under the n

  2. Opalesque Exclusive: Hedge fund talent, fees take a hit at the Milken Global Conference[more]

    Bailey McCann, Opalesque New York: It's been a rough year for hedge funds and now, even other managers are panning them. "Frankly, I’m blown away by the lack of talent," was Point 72 CEO Steven Cohen's assessment of trying to find candidates to hire in the investment business at a panel o

  3. Hedge funds fell in April as alternative UCITS surge in Europe[more]

    Komfie Manalo, Opalesque Asia: Hedge funds shed more in April with the Lyxor Hedge Fund Index down 0.9% during the month (-2.8% YTD), but there was some good news with alternative UCITS showing strong inflows in Europe. In its Weekly Briefing, Lyxo

  4. Global hedge funds recover in April on resurging energy commodities[more]

    Komfie Manalo, Opalesque Asia: Global hedge funds recovered in April with the HFRX Global Hedge Fund Index gaining +0.41% last month (-1.47% YTD), while the HFRX Market Directional Index gained +5.31% during the same

  5. AIG lost $349m in hedge fund portfolio in Q1[more]

    Komfie Manalo, Opalesque Asia: Large US insurance group AIG lost a net $183m for the first quarter 2016, year-on-year. The group blames the loss on the impact of market volatility on investments, as well as net realised capital losses and restructuring costs. Its hedge fund portfolio made a n