Tue, 14/05/2013 - 14:08
Israel A Englander and Co’s Managed Accounts & Prime Services (MA&PS) division has expanded its footprint to Palm Beach County, Florida.
Brett Langbert, managing director, head of sales, is in charge of MA&PS' newly opened Palm Beach office, where he will be dividing his time between this office and MA&PS' New York office. MA&PS also has an office in Santa Monica, California.
MA&PS' clients include emerging hedge funds, fund of funds, family offices, pension funds, endowments, and managed account platform providers.
MA&PS chose the Palm Beach County location because it is increasingly becoming a haven for hedge funds, investors and others who work in the alternative investment sector. Besides the year-round sunny weather, Palm Beach County has become an attractive locale for the fund industry partly because of its business-friendly climate, which includes no state income tax.
"Palm Beach County is an ideal location for MA&PS to expand its operations because it's a region that is in need of the services that we offer to the alternative asset community," says IA Englander president Stephen Tobias (pictured). "We anticipate that more hedge funds and investors will relocate to this area which presents a terrific opportunity for MA&PS to significantly grow its client base in this dynamic business environment."
Langbert says: "We anticipate strong demand for our managed account platform and prime services in this region, where a significant number of hedge funds and investors have relocated over the past few years. MA&PS' presence here provides them with the ability to take advantage of a growing industry trend of utilising managed accounts platforms which are a convenient, efficient and cost-effective avenue for allocators to find more comfort to make investments in early stage managers by removing operational and infrastructural costs and risk."
Recently launched to serve the needs of emerging hedge fund managers and investors, MA&PS is specifically designed to offer high-quality service and support while dispensing scalable and competitively priced multi-prime solutions. MA&PS also offers a differentiated approach to capital introduction, leveraging its investor relationships via the MA&PS platform and solutions.
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