Investment Fund Services
We provide members of our fiduciary services team to act as independent directors to investment funds. We also provide a range of other services to investment funds including corporate secretarial services, trustee services, affiliated trade review and voluntary liquidation services.
We act on a broad range of funds in terms of strategy and size. Fund structures serviced include hedge funds, fund of funds, private equity funds and managed account platforms.
We are located and our directors reside in the key fund domiciles: the Cayman Islands, Delaware, Dubai, Hong Kong, Ireland, Luxembourg, the Netherlands, Singapore , UK, and the US (including Delaware). We also offer services to funds domiciled in the British Virgin Islands ("BVI").
Certain jurisdictions have requirements (Ireland) or preferences (Luxembourg) that independent directors resident in the jurisdiction be appointed to funds domiciled in those jurisdictions. None of the Cayman Islands, Delaware or the BVI require that independent directors be appointed as a legal matter nor do these jurisdictions have director residency requirements. However, it is quite common to appoint local independent directors on Cayman Islands and BVI structures and it is becoming more common on Delaware-based funds. Based on analysis of Maples and Calder's market share of CIMA registered funds, in addition to other market data from external sources, more than 84% of all new offshore fund launches have at least one independent director, with more than 78% having at least two independent directors. This has increased significantly over the last few years, supporting the elevated importance being placed on the governance of offshore funds.