Tue, Mar 19, 2024
A A A
Welcome Guest
Free Trial RSS pod
Get FREE trial access to our award winning publications
Alternative Market Briefing

Nature of hedge fund management start-up industry is changing

Monday, March 20, 2017

amb
Joe Vittoria
Benedicte Gravrand, Opalesque Geneva for New Managers:

The CEO of a regulatory hosting platform talks to Opalesque about his industry's ups and downs, the changing nature of fund management start-ups, and how managers are reacting to Brexit.

The regulatory hosting industry had been booming for the last three years in the UK, according to Joe Vittoria, CEO at Mirabella Financial Services, a London-based regulatory hosting platform. And the reason is in the delay in gaining FCA authorisation for new firms.

Mirabella, a wholly owned Cordium subsidiary, enables firms to operate quickly under a regulatory licence by extending its own regulatory permissions to its clients. It has a regulatory compliance team and a risk management team. Cordium fulfils all other functions.

However, "this speed-to-market based boom for hosting firms is going to end fairly soon because the FCA (the UK's Financial Conduct Authority) is now approving new firms much more quickly, and the really big benefit of renting a license quickly is no longer there," he tells Opalesque.

A year ago, it would take 23 weeks to be be assigned a case officer; and that was just the start of the authorisation process. Now, case officers are assigned in two to eight weeks. All in all, "it takes around three ......................

To view our full article Click here

Previous Opalesque Exclusives                                  
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. KKR raises $6.4bn for the largest pan-Asia infrastructure fund[more]

    Laxman Pai, Opalesque Asia: The New York-based global investment firm KKR has raised a record $6.4bn for its second Asia-focused infrastructure fund, underlining investors' continued appetite for private markets. According to a media release from the alternative assets manager, the figure top

  2. Bucking the trend, top hedge fund makes plans for a second SPAC[more]

    From Institutional Investor: SPACs aren't dead. At least not to the folks at Cormorant Asset Management. The life sciences firm, whose hedge fund topped its peers in 2023, is confident it will match the success of its first blank-check company. Last week, the life sciences and biopharma speciali

  3. Benefit Street Partners closes fifth fund on $4.7 billion[more]

    Bailey McCann, Opalesque New York: Benefit Street Partners has closed its fifth flagship direct lending vehicle, BSP Debt Fund V, with $4.7 billion of investable capital across the strategy. Benefit Street invests primarily in privately originated, floating rate, senior secured loans. The fun

  4. 4 hedge fund themes that are working in 2024[more]

    From The Street: A poor earnings report from Tesla (TSLA) has not hurt the indexes on Thursday. The decline in Tesla stock, which is losing its position in the Magnificent Seven pantheon, is more than offset by strong earnings from IBM (IBM) and ServiceNow (NOW) . In addition, the much higher-t

  5. Opalesque Exclusive: A global macro fund eyes opportunities in bonds[more]

    Bailey McCann, Opalesque New York for New Managers: Munich-based ThirdYear Capital rebounded in 2023, following a tough year for global macro. The firm's flagship ART Global Macro strategy finished the year up 1