Your Trusted Source of Information on Launching, Relocating, Managing and Servicing Private Funds in Miami
Keeping you informed on what is going on in the Miami private funds scene
A Cultural and Financial Hub
The South Florida private funds scene exploded during COVID, but has been steadily building for years. Along with a growing financial community, the arts scene, including fashion, design, food and theater, has grown as well, all influenced by the blending of various cultures, languages and customs.
The financial industry has piggybacked on some of these events, including the annual Art Basel art sale, to take advantage of the migration to Miami of high net worth families and financial professionals. You can expect to see many funds-related conferences and social events during Art Basel week in December. This also occurs on a greater scale during the annual hedge fund week (in late January or early February), which coincides with multiple fund conferences on Miami Beach.
Local organizations, such as Miami Finance Forum and the Miami chapter of Hedge Fund Association, hold events of interest year-round.
Miami’s center of gravity has shifted toward tech and innovation
Miami’s thriving private funds industry includes real estate funds, cryptocurrency funds, venture capital funds, hedge funds, lending funds and a wide variety of other asset classes and structures. The financial scene is truly a melting pot of Miami natives and newcomers from around the world. A popular destination for tourists and second homes, those who visit Miami are now staying and calling the city home.
You are not alone. Newcomers land in a welcoming environment with established organizations eager to help them settle in.
Fill your calendar with finance-related conferences and social events.
Articles & Info.
Funds and Miami related articles and other useful information.
Florida Regulatory Information
Regulatory Information for fund managers located in the State of Florida
What’s Going on in Miami?
As the financial landscape continues to evolve in a post-pandemic world, private funds are increasingly looking for locations that offer favorable business environments, including a vibrant financial sector and access to capital, among other attractive attributes. Miami offers a unique combination of favorable tax policies, access to capital, sophisticated services providers, a growing business community, strategic location and lifestyle amenities that make it an attractive (and increasingly popular) jurisdiction for private funds.
Local private equity firms are often focused on the middle-market, targeting companies across a variety of industries. The city’s emerging technology and startup ecosystem is also attracting venture capital firms. Traditionally, people have associated Miami with the real estate and tourism sectors. Miami’s real estate market is also a key driver of the private funds industry, with a significant number of real estate investment firms and funds located here. Wealthy families from emerging markets often view Florida real estate as a safe haven. Private real estate funds in Miami invest in a range of properties, such as office buildings, single and multi-family homes, hotels, public storage,. shopping centers and short term rental properties.
Hedge funds are also a large and growing segment of Miami’s private funds industry, with many established and emerging funds pursuing every imaginable strategy.
Miami is also a cryptocurrency and blockchain hub, driven in part by a lifestyle that attracts young professionals. Although the asset class may have lost favor recently following the bankruptcy of certain platforms, the environment, personnel and infrastructure is in place for the future.
There are several reasons why private funds should consider relocating to Miami:
1. Favorable tax environment: Florida is known for its business-friendly environment and lack of state income tax or estate tax. Private funds and their investors can benefit from these tax advantages, which can translate into higher returns on investment.
2. Access to capital: Miami has a large and growing community of high net worth individuals, family offices, and allocators that are looking to invest in private funds. Relocating to Miami can provide private funds with access to a diverse pool of capital, which can be crucial for growth and expansion. South Florida seems to have a community of wealthy immigrants from every region of the world, and many residents who straddle two nations tend to invest their money in the U.S. due to its perceived stability and much lower inflation than many less developed regions.
3. Growing business community: Miami has a diverse economy that is focused on industries such as finance, healthcare, and technology, in addition to real estate tourism and healthcare. The city is also home to respected and well funded universities, which can provide skilled workers. The difficulty that employers had when convincing employees to relocate to Miami appears to have gone away post-COVID.
4. Strategic location: Miami’s location makes it an attractive hub for businesses looking to do business in Latin America and the Caribbean, and it is also a convenient travel hub to Europe and other parts of the U.S. The city is a gateway to these regions and has large communities that speak a variety of languages, which can help businesses target global business.
5. Lifestyle amenities: Miami is known for its warm weather, beaches, party atmosphere and trendy cultural scene. These lifestyle factors can be attractive to potential employees and, where applicable, their families, provided that the high cost of living may make Miami most attractive to high net worth people. Miami has a thriving art scene that includes several museums, galleries, and art fairs. Miami is also host to the internationally renowned Art Basel on Miami Beach, which attracts artists and art enthusiasts from around the world. Miami’s food scene is diverse and reflects the city’s multicultural population and status as a high end tourist destination. Miami is also home to sports teams and events, such as the Miami Open tennis tournament and the Miami Dolphins, in addition to big-time college sports. Given the weather, Miami is also a natural hub for recreational sports.
6. Conferences and events: Miami’s weather makes it a natural fit for conferences and events, including a large number that focus on finance generally, private funds, private wealth and blockchain and cryptocurrency. This brings many industry players to the area. Some of the attendees may decide to stay and put down roots, or at least target Miami as a market to focus on.
Miami’s private fund industry has been experiencing steady growth in recent years, and the pandemic has only accelerated this trend. The COVID-19 pandemic has played a huge role in the growth of Miami’s hedge fund industry. The shift to remote work has made it easier for hedge funds to operate from anywhere, and many firm founders (including some who are close to retirement age) have found that they can successfully relocate and manage their operations from Miami, regardless of whether the rest of the team follows. Additionally, the pandemic has highlighted the appeal of Miami’s lifestyle, with many high-net-worth individuals seeking to relocate to the city, which was placed in the national spotlight since many jurisdictions remained closed while Miami appeared to be a big party and a refuge from pandemic precautions. Overall, Miami’s hedge fund industry is well-positioned for continued growth in the years ahead.