Friday, 31 October 2014
Last updated 12 hours ago
Jan 12 2011 | 9:29am ET
The Cayman Islands, offshore domicile of choice for hedge funds, is about to get its own chapter of the Hedge Fund Association.
The New York-based, not-for-profit group says it’s opening the new chapter in response to “intense demand” from industry participants in the Cayman Islands. Peter M.O. Young, president of Advanced Fund Administration, will serve as the first president of the new chapter.
“We are extremely pleased to establish a presence for the Hedge Fund Association in one of the most important hubs for offshore hedge funds,” said David Friedland president of the Hedge Fund Association and president of Magnum U.S. Investments. “This long overdue expansion will allow us to better advocate and represent a much broader cross section of the alternative investment community when we speak up for the industry in Washington, in the media and beyond.”
Young said he was honored by the appointment as president and was “looking forward to spearheading the HFA’s many events and initiatives in the Cayman Islands as well as rallying the local industry to support the HFA in its ongoing advocacy efforts.”
Prior to establishing Advanced Fund Administration in 2007, Young was the executive vice president and principal operating officer for Citi Hedge Fund Services, with responsibility for its Cayman Islands operation.
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