One of the world's premier offshore hedge fund has now listed on the Cayman Islands Stock Exchange. The Maverick Fund, which is managed by Maverick Capital Ltd, joins a growing list of fund operations attracted by the facilities offered by the Exchange.
Ann Nealon, the Exchange's Chief Executive said:
"We are delighted that such a prestigious fund as Maverick should decide to list on the Stock Exchange. Maverick is a major player in the US offshore hedge fund and has been attracted to our Exchange by the specialised facilities we offer offshore hedge funds as well as our responsive nature."
Maverick Capital was voted the world's best money manager by Nelson's earlier this year. The Maverick Fund was founded as an investment vehicle for the Wyly family of Dalla, Texas and has been managed by Lee S Ainslie III, since he left Julian Robertson's Tiger Management in 1993. Mr Ainslie said:
"We were attracted to the Cayman Islands Stock Exchange because of its understanding of the requirement of hedge funds. It is very important for a hedge fund to operate within a responsive regulatory environment."
Since its inception Maverick Capital has built a global reputation and now manages over US$1 billion dollars. The minimum subscription for investors in Maverick fund is US$1 million.
The Cayman Islands Stock Exchange's Chairman Anthony Travers, a Cayman Islands Attorney at Law and senior partner of Maples and Calder Europe said:
"To be able to attract Cayman Islands domiciled funds of the quality of Maverick demonstrates the attraction of the Exchange which offers a real and dynamic alternative for fund operators. We are pleased this has been recognised by such an important player as Maverick."
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
For further information please contact Miranda Pugh