Thu, Apr 17, 2014
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Deloitte Asset Management Services launches emerging manager platform offering tax, auditing, advisory and consulting

Tuesday, October 19, 2010
Opalesque Industry Update - Deloitte announced today its asset management services practice has launched a global full-service hedge fund emerging manager platform offering a unique mix of traditional and non-traditional professional services across audit, tax, financial advisory and consulting. The program represents the latest development in an aggressive two-year build out of the hedge fund practice.

"In today's environment, emerging managers need recognized industry heavyweights for professional services. Deloitte has launched the hedge fund emerging manager platform to provide emerging managers with a solution that offers access to our global network, and customized, creative and responsive service," said Cary Stier, vice chairman and Deloitte's U.S. asset management services leader. "If you launch with Deloitte, you stay with Deloitte. A client cannot outgrow our services. Deloitte delivers results that matter."

The emerging manager platform offers traditional services like audit, tax compliance and fund structuring bundled with non-traditional services including general partner and international tax planning, regulatory and compliance, and technology and operations on a sliding fee scale that keeps pace with the manager's growth. The emerging manager platform is led by 23 partners, principals and directors and more than 250 specialists internationally through the Deloitte Touche Tohmatsu Limited (DTTL) member firms with operations in the United States, Dublin, London, Hong Kong, Luxembourg, Bermuda, Cyprus, Mauritius and the Cayman Islands.

"Today emerging managers face the pressure of having to operate like a mature fund before they can fully absorb the associated costs, which is why we have designed this global program to offer full service at a sliding cost. It will be difficult for emerging managers to succeed without access to the right services; we understand that and are committed to meeting that need," said Ray Iler, director, Deloitte & Touche LLP and leader of the hedge fund emerging manager platform in the U.S. "From the investor perspective, a new manager's choice of Deloitte provides instant creditability and confidence. And, for institutions seeding emerging managers, we can offer consistent tax and financial reporting and standardized service offerings regardless of geography."

Deloitte's hedge fund practice offers access to a global bench of talent in audit and tax, valuation, anti-fraud, governance and oversight, regulatory and compliance, risk management, technology and operations, structuring, and assessment of third party administrator/prime brokerage relationships. With a DTTL member firm network of more than 3,500 specialists in more than 40 countries, the practice serves 70 percent of U.S. hedge funds with more than $20 billion in assets under management, and 75 percent of global hedge funds with more than $20 billion in assets under management.

(press release)

Source

kb

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Banner
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. Opalesque Exclusive: European stock-picking fund up 19% YTD, bets on small caps’ high cash level[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Here is a European long/short equity fund that has been beating the odds since its 2008 inception by employing its own investment model, frequent company visits

  2. CTAs could face new challenges in a rising rates environment[more]

    Bailey McCann, Opalesque New York: CTAs have taken a beating performance wise lately, and asset flows reports show that investors aren't sticking around to see how the movie ends. Now, a new white paper from Roy Niederhoffer and Coen Weddepohl notes that as interest rates start to tick back u

  3. Investing – Big hedge funds bought Puerto Rico's junk bonds, Fidelity explores new trading venue amid flash trade concerns, Crisis-era Greek bonds reward early buyers with big effective returns, Cargill unit discloses stake in Freddie preferred[more]

    Big hedge funds bought Puerto Rico's junk bonds From Reuters.com: Several large hedge funds doubled down on Puerto Rico in last month's giant bond sale despite the U.S. territory's financial struggles, the Wall Street Journal reported, citing confidential documents reviewed by the newspa

  4. Opalesque TV: First Trust Advisors launches liquid alternatives platform[more]

    Bailey McCann, Opalesque New York: First Trust Advisors is launching a new liquid alternatives platform aimed at building on the companies existing alternative ETFs offering by adding hedged mutual funds. Senior Portfolio Managers Rob Guttschow and John Gambla recently sat down in an

  5. Commodities – Popular value fund manager David Iben bets on Russia, gold,[more]

    From Reuters.com: With large bets on Russia and North American gold miners, one of the best performing stock pickers in the wake of the 2008 financial crisis is back with a new fund that reflects his deep aversion to following the crowd. In the Kopernik Global All-Cap Fund, David Iben is follo