Opalesque Industry Update - Bryan Garnier Asset Management (BGAM) has launched the Bryan Garnier Umbrella Fund SICAV plc.|
The Umbrella Fund is domiciled in Malta and externally managed by Bryan Garnier Asset Management in France which is regulated by the Autorité des Marchés Financiers (AMF). Top tier service providers have been selected with Deutsche as Custodian, Fund Administrator and responsible for FX share class hedging while PwC will be the auditor and Lecocq Associate external legal counsel.
Vania Mareuse, Managing Partner, came up with the idea in 2011 and is happy to see it come to fruition “It has taken some time to arrive at this point but we are extremely happy with the structure, the service providers we have on board and of course the hedge fund managers who will be represented on our platform”.
Steve Wallace, Managing Director, added “Bryan Garnier has a very entrepreneurial structure which enabled us to establish the UCITS platform at a time when we have seen other boutiques closing and I am very excited with commencing with Madison Street Partners and we have others due to come on board later in the year that we will announce.”
“There continues to be a dearth of US hedge funds in the UCITS universe, especially when you look at those mangers running niche strategies with lower capacity levels which makes it all the more exciting to market.”
Madison Street Partners, a US hedge fund manager based in Denver, Colorado will be the first subfund on the platform. Drew Hayworth, Founder and Fund Manager, from Madison Street Partners said “we chose Bryan Garnier's platform for its UCITS offering because of their expertise and unwavering commitment to build and grow the product. Our strategy fits very well within the UCITS platform and we are excited about partnering with Bryan Garnier to offer a US based manager to the UCITS marketplace.”
Madison Street Partners are an SEC registered $175m US Equity Long Short Manager founded in February 2004. “This is a manager that has an extremely good risk management record and has performed very well in exceptionally adverse market conditions. Furthermore, from a UCITS perspective their strategy fits well into the UCITS environment” continued Steve Wallace.
BGAM is part of Bryan Garnier & Co, an independent investment bank specialising in European Healthcare, TMT and Renewable Energies growth companies. The firm is focused on three major activities: Equity Research & Brokerage, Asset Management and Corporate Finance. With more than 150 professionals based in London, Paris, New Delhi, New York and Geneva, Bryan, Garnier & Co combines the range of services and expertise of top-tier investment banks with the level of attention to clients of a boutique. www.bryangarnier.com