Tue, May 26, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Fund specialists set Privium to provide support to wave of new funds starting up this year

Wednesday, March 09, 2011
Opalesque Industry Update - Privium Fund Management (UK) Limited (formerly known as Asia Alternative Asset Partners Limited) started its activities in London. Internationally experienced industry veterans Paul Smith, Clayton Heijman and Nick Paris have started a new business venture to support the launch of the various new fund management operations that are anticipated in the financial industry this year.

Providing a one-stop solution for every new fund manager, Privium has the experience and expertise to contribute in making these funds a success. Services offered are: asset management, middle and back office administration, marketing, office infrastructure and support.

New fund management teams spinning out of trading organizations, banks or traditional fund management groups are often confronted by numerous tasks: Fund structuring, Regulatory applications, Asset raising, Operational infrastructure, Broker selection, etc. All these have to take place in a short period of time while the investment strategy has to be refined as well.

Too often the start-up plans are held back by unnecessary delays because of enormous mountains of work. Privium will be the answer to a rapid and solid start up of their fund management activities. It allows the new fund manager to focus on his or her core competence of managing money for investors.

Paul Smith and Clayton Heijman have known each other for decades. Paul was in charge of the alternative fund administration activities of the Bank of Bermuda and later at HSBC, whilst Clayton worked on the development of the European prime brokerage and equity finance divisions at Goldman Sachs and established MeesPierson-Fortis’ hedge funds services. In those days they were rivals in building businesses in the funds management world. After setting up Hedge Fund coverage at Credit Agricole, Clayton successfully founded Darwin Platform in 2008 (www.darwinplatform.com ).

Nick Paris has many years of experience in the funds industry marketing funds to institutional investors. Whilst enjoying a long career at Peregrine, Barings, CLSA and lately worked at his own marketing firm, Purbeck Advisers Limited in London. He and Paul Smith have known each other for over 15 years. Nick is a non executive director of Privium Fund Management.
With all these years of experience they know what support is needed by new funds. They have helped to set up and start many new funds over the years.

“The infrastructure that we put together is a combination of top-quality systems together with fund structures in Luxembourg, Netherlands, Cayman, etc. This means that a new manager can set up in a record time. New managers can benefit from our expertise ranging from capital introduction to providing office space” according to Clayton Heijman. “Our set-up is ideal for managers that want to set up their fund on a solid foundation allowing for growth. We are the architects that help to build a masterpiece.”
“Potential investors nowadays require an institutional infrastructure from the start. Together with an increasing regulatory burden and a growing list of demands the hurdles to entry have never been greater. We have brought our experiences together to create the solution for new teams joining this industry” according to Paul Smith.

Nick Paris: “It is an exciting time to be creating an institutional platform as this is exactly what professional investors want nowadays. In the current climate with so much talent coming to the market, investors are keen to invest only if the set-up is solid.”

The start of the year has seen an increase of new funds starting up across the various types and investment strategies. With the announced new regulations on banking and the guidelines for remuneration there are various successful teams that are weighing different options.

Heijman: “There are clear signs that this year lots of new firms will be opening up. As a result the investment management industry is moving back from large conglomerates towards specialized boutiques. Privium is clearly well placed to support this trend.”
(press release)

Source

kb

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
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 - Top hedge fund managers talk about how easy their jobs have gotten, BlackRock to Schroders warn of Argentina’s $20bn bond glut, The 35-year “investment supercycle” is drawing to a close, says Bill Gross, Gundlach: When the Fed starts hiking rates, 'GET OUT' of this asset class[more]

    Top hedge fund managers talk about how easy their jobs have gotten From Businessinsider.com.au: Time was, before the financial crisis hit, corporate boards treated multi-billion dollar hedge fund managers like Jehovah’s Witnesses pounding on their doors and flashing bibles. But no more.

  2. T Rowe's challenge to Dell deal may fuel critics of 'appraisal'[more]

    From Reuters.com: An increasingly popular tactic used by hedge funds and others to extract more money from buyouts could soon face a major courtroom test when a big investor in Dell Inc may argue that it should be paid a higher price for the 2013 acquisition of the PC maker. The strategy, known as "

  3. News Briefs - Ergen says LightSquared plan unfairly favors hedge funds, Why hedge fund managers make good advisory clients, I learned a lot about dad-bros after spending 4 days in Vegas with 2,000 hedge funders[more]

    Ergen says LightSquared plan unfairly favors hedge funds LightSquared Inc.’s bankruptcy plan gives hedge funds that invested in the broadband company a leg up while blocking telecommunications firms from competing with it, a fund owned by Dish Network Corp. Chairman Charles Ergen said in

  4. Opalesque Exclusive: SEC approves proposed changes to Form ADV, '40 Act - comment period to follow[more]

    Bailey McCann, Opalesque New York: Hedge funds and providers of liquid alternatives will want to pay close attention to proposed reforms approved by the SEC yesterday. The changes will require more frequent reporting, as well as a closer look into social media, liquid alternative strategies, and

  5. Opalesque Exclusive: Ovation Partners targets opportunities where few "natural lenders" participate[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Changes in financial regulations post-2008 (Dodd-Frank and Basel III) are forcing banks to significantly alter their core lending businesses. And as mid-sized

 

banner