The London-based Alternative Investment Management Association is to establish a new “volunteer network” in Bermuda, its third such network.
The other two AIMA networks are in Brazil and Dubai.
AIMA, which represents alternative asset managers around the world, also operates branch offices and so-called national groups – previously known as ‘chapters’ – in the US, Australia, Canada, the Cayman Islands, Hong Kong, China, Japan and Singapore.
AIMA said that in Bermuda, AIMA members participating in the new volunteer network will be represented by an executive committee, or “ExCo”. This ExCo and supporting committees “will seek to boost membership and support the continued development of Bermuda’s alternative investment community”, AIMA added, in a statement released on Thursday.
In Bermuda, the new AIMA network initiative is being headed up by Craig Bridgewater, a KPMG managing director based on the island. In the AIMA statement, Bridgewater called for volunteers to join the new ExCo and contribute to AIMA initiatives locally and globally.
Speaking at a launch event at the Bermuda National Gallery attended by around 85 alternative investment industry professionals, Bridgewater said: “We look forward to AIMA Bermuda becoming the focal point and voice for the industry in Bermuda. We are keen to increase AIMA’s activities [here], and will be organising events and creating working groups and committees to encourage participation and collaboration among local AIMA members and other industry partners.”
AIMA has more than 1,700 corporate members and more than 10,000 individual contacts in more than 50 countries around the world. It says its members include hedge fund managers and other alternative asset managers, fund-of-funds managers, prime brokers, legal and accounting firms, investors, fund administrators and independent fund directors. In total AIMA’s manager members manage more than US$1.5trn in assets.
AIMA was one of the co-founders of the Chartered Alternative Investment Analyst (CAIA) accreditation, which established a professional standard for alternative investment specialists in 2002.