Cayman International Financial Holdings spins off Global Fund Exchange
Cayman International Financial Holdings has announced that in recognition of changing business and service delivery models, it has decided to spin off its fund platform services business, Global Fund Exchange, to focus on its core Infiniti Capital fund of hedge funds management activity.
The board of Cayman International has decided it is important for Global Fund Exchange, which offers independent fund platform support services to a wide range of hedge fund managers, to be free from any market perception that it is overshadowed by the group's fund of hedge fund management division.
Lauralouise Duffy has acquired Global Fund Exchange from Cayman International and she remains chief executive of the fund service business. Infiniti Capital will maintain business links with Global Fund Exchange as a client.
According to Cayman International, the spin-off will see Global Fund Exchange to offer independent fund platform management and consulting services to a wider range of clients. Global Fund Exchange has its headquarters in Switzerland and offices in the Cayman Islands, Hong Kong and New York state.
Ownership of the fund platforms set up for Infiniti Capital funds will be transferred to Infiniti and certain Global Fund Exchange group companies will also be retained by Cayman International in order to ensure there is no disruption to the daily operations of Infiniti Funds. Over the course of the next year Infiniti Capital Funds will be rebranded to reflect the spin-off of Global Fund Exchange from the group.
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