{"id":40682,"date":"2014-02-19T06:39:20","date_gmt":"2014-02-19T11:39:20","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=40682"},"modified":"2014-02-19T06:41:32","modified_gmt":"2014-02-19T11:41:32","slug":"california-hedge-fund-universa-investments-moves-to-miami","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/02\/2014\/california-hedge-fund-universa-investments-moves-to-miami.html","title":{"rendered":"California Hedge Fund Universa Investments Moves To Miami"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2014\/02\/coconut-grove-aerial.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-40694 alignleft\" alt=\"coconut-grove-aerial\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2014\/02\/coconut-grove-aerial-300x213.jpg\" width=\"300\" height=\"213\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2014\/02\/coconut-grove-aerial-300x213.jpg 300w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2014\/02\/coconut-grove-aerial.jpg 382w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>New York (HedgeCo.Net) &#8211; Equity tail hedging fund\u00a0Universa Investments\u00a0is moving its headquarters from Santa Monica, Calif. to Coconut Grove, Fla. on March 1.<\/p>\n<p>The move makes it the first high-profile firm to move to Miami since Miami\u2019s Downtown Development Authority (DDA) began its initiative to attract hedge funds and other financial firms to the city.<\/p>\n<p>Miami, which is already the second-largest banking and finance hub in the United States, behind only New York City, launched the Finance Sector Initiative in October of 2013. The campaign involves targeted one-on-one outreach to hedge funds, hosting events that will put Downtown Miami in front of financial executives, and forming strategic alliances with industry leaders.<\/p>\n<p>\u201cFlorida\u2019s business-friendly policies, which are so different from California&#8217;s, offer the perfect environment for us as we expand,\u201d said Spitznagel, founder and CIO of Universa Investments. \u201cI would expect to see more firms like Universa voting with their feet and relocating to a more hospitable business and tax environment, especially as many local governments are trying to tighten their grip on businesses.\u201d<\/p>\n<p>Spitznagel cited Miami\u2019s proximity to Latin America and Europe and its access to an international pool of investors as additional reasons for the move. He also said that he plans to expand his workforce at Universa from 14 employees to 25 in the next three years.<\/p>\n<p>&#8220;Financial firms can access the same technology, the same high quality office space, and the same cosmopolitan lifestyle in Miami without paying sky-high income taxes,\u201d said Marc Sarnoff, Chairman of the Miami Downtown Development Authority. \u201cThe Miami DDA is thrilled that a high profile firm like Universa recognizes these benefits and we are thrilled to have them join our community.&#8221;<\/p>\n<p>Alex Akesson<br \/>\nEditor for\u00a0<a title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.net<\/a><br \/>\n<a href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br \/>\n<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.Net<\/a>\u00a0is a premier\u00a0<a title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\/\">hedge fund database<\/a>\u00a0and community for qualified and accredited investors only. Membership in\u00a0<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.net<\/a>\u00a0is FREE and EASY. We also offer FREE LISTINGS for\u00a0<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">Hedge Funds<\/a>!<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.Net) &#8211; Equity tail hedging fund\u00a0Universa Investments\u00a0is moving its headquarters from Santa Monica, Calif. to Coconut Grove, Fla. on March 1. The move makes it the first high-profile firm to move to Miami since Miami\u2019s Downtown Development Authority [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16044,3],"tags":[],"class_list":["post-40682","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-strategies-2","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/40682","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=40682"}],"version-history":[{"count":3,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/40682\/revisions"}],"predecessor-version":[{"id":40698,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/40682\/revisions\/40698"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=40682"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=40682"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=40682"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}