•  
• Tweet
•  
•        Print
•  
•         Track Keywords
•  
• 

Komfie Manalo, Opalesque Asia:

Reverse solicitation is like a unicorn that is a very pretty concept but not really existing in reality, said Joey Garcia, a funds partner at Isolas, the oldest law firm in Gibraltar.

Speaking during the recent Opalesque Gibraltar Roundtable, Garcia said, "Many times when speaking to non-E.U. managers, we hear about the potential reliance on concepts like reverse solicitation or existing private placement regimes etc., but our view is that these are very short-term solutions. Reverse solicitation in itself is something that I have heard as being described as a unicorn, very pretty in pictures but not really existing in reality."

Private placement to be phased out

He continued that private placement is probably going to be phased out, and it has been proposed that this would happen by 2018. Garcia explained that after 2018, U.S., Hong Kong, Geneva or Zurich-based managers with clients in London or Madrid must need a solution that enables them to enter that market and engage with their clients.

"We have seen the evolution in that space as being through what I loosely call platform providers. These are providers that they are able to offer you the full AIFM infrastructure. We are also looking at delegating functions like portfolio management and risk management, and that seems to be the trend that people are following. There are a number of......................

To view our full article Click here