Aureos To Move From London To Singapore

Feb 24 2010 | 1:06pm ET

Private equity firm Aureos Capital will move most of its operations out of London to a new Singapore office to skirt new European alternative investments regulation and higher U.K. taxes.

The new office will open in August. Five of the p.e. shop’s partners, including CEO Sivendran Vettivetpillai, plan to move to Singapore as soon as the end of this year.

“We don’t do any business in the U.K.; we sit here for legacy point,” Vettivetpillai told Bloomberg News. “For a global firm to function it doesn’t really matter where you are based, as long as you have the process systems in place for you to function appropriately and cost-effectively.”

While Vettivetpillai called the costs of doing business in London “exorbitant” and admitted Aureos was concerned about proposed European Union regulations, the move was also motive by the firm’s plan to shift its investment focus to Asia.

“There’s a commercial rush behind it,” he said.

Aureos currently invests half of its assets in Africa. But the firm, which is raising US$250 million for its South-East Asia Fund II, plans to pour US$1 billion into Asia over the next two-and-a-half years. According to Vettivetpillai, Asia will account for half of its assets under management over the next few years.

Aureos plans to hire five professionals for its Singapore hub over the next six months, with another five hires down the road. The firm will “thin down” its London operations “because the cost factor is getting out of hand.”

London won’t be the only loser with the opening of the office in Singapore, which beat out Dubai and Hong Kong for the honor. Aureos’ Sri Lanka-based portfolio manager will also relocate to the city-state.


In Depth

JOBS Act Propels Real-Estate Crowdfunding Platform

Oct 21 2014 | 2:57am ET

If D.J. Paul were a real estate development, he would be described as “multi-use...

Lifestyle

Strippers Accused Of Robbing Hedge-Fund Manager Face Jail

Oct 20 2014 | 9:20am ET

A group of alleged stripper-thieves—whose victims include a hedge-fund manager...

Guest Contributor

PAAMCO: European Equity Exposure - Challenging Year, But All is Not Lost

Oct 16 2014 | 4:12am ET

European equity hedge fund managers have had a tough time so far this year. The...

 

Videos

Editor's Note

    Must Attend Hedge Fund Charity Events For October

    Sep 30 2014 | 9:29am ET

    The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…

 

Futures Magazine

October 2014 Cover

Deeply flawed risk benchmark

Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...

The Alpha Pages

TAP July/August 2014 Cover

The Alpha Pages Interview: Senator Rand Paul

Senator Paul sat down in the debut series of the Alpha Pages Interview to discuss the broken tax code, regulation surrounding Bitcoin, and his plans for the 2016 Presidential election.