serving emerging managers let us take you there - … · serving emerging managers ... and trends....
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Serving Emerging ManagersLet us take you there
Investment Management
If you launch with Deloitte you stay with Deloitte. A client cannot outgrow our services. — Ted Dougherty, U.S. Hedge Fund Leader
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Emerging managers are launching funds as a result of market forces and regulatory reform. Not only do emerging managers need to hit the ground running, but they need an institutional infrastructure that appeals to investors and regulators. This requires emerging managers to work with a professional services provider that is an innovative leader and can provide best-in-class services.
At Deloitte, we have designed an emerging manager platform focused on the needs of emerging managers and those that provide seed capital. We understand the importance of industry experience and knowledge. Deloitte’s multidisciplinary approach sets us apart from other service providers and offers distinct, tangible benefits:
• Straightforward and practical advice during the launch phase
• Cost effective tax, audit, and regulatory services
• A dedicated global team
The differentiation of atrusted adviser
This approach, combined with our commitment to exceptional client service in helping other organizations navigate the challenges associated with start-ups means that you can count on us to deliver results that make a difference.
With Deloitte, you can expect to receive the consistently high degree of personal attention inherent in the Deloitte Client Experience — a reinvigorated approach to client service organized around four key tenets of superb client service:
• Our commitment to responsiveness• The ability to provide clients with
industry insight• The ability to bring deep
understanding and a broad perspective to the issues at hand
• The delivery of services by a highly experienced team dedicated to meeting each of our client’s needs
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The hedge fund industry is our fastest growing practice area in financial services, and it is one where the greatest share of our resources are currently focused.
Nationally, our Hedge Fund practice is comprised of more than 1,000 specialists delivering audit, tax, regulatory, consulting, and financial advisory services to both emerging managers and the largest hedge funds in the world.
Globally, our investment management practice consists of nearly 6,000 professionals, including 700 partners and directors, in more than 40 countries. We serve six of the 10 largest hedge funds, eight of the top-10 U.S. funds of funds, and upwards of 50% of the top-100 hedge funds.
We are active members in the hedge fund community through our leadership positions in Alternative Investment Management Association, Managed Funds Association, 100 Women in Hedge Funds, Hedge Fund Care/Help for Children, Association of the Luxembourg Fund Industry, and many more organizations globally.
Our strategyWe place clients first. When working with our clients we recognize that implementing a one-size-fits-all approach is not an option. Rather, we listen, identify your needs, and formulate a customized strategy to best fit your immediate and long-term goals.
We maintain a tradition of providing nimble and responsive service to every client. As such, we make it a true priority to anticipate your needs and mobilize the right resources when you need us most.
Our partner-driven approach to serving clients has allowed us to develop a reputation in the marketplace for high-quality service — a reputation we strive to reinforce in every interaction each and every day.
Our commitment to the hedge fund industryDeloitte is well positioned to meet client demand both in the U.S. and globally.
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“…don’t rush the process of getting launched but instead focus on hiring the right team, bringing in the proper infrastructure, carefully select long-term minded service providers.”
— Emerging manager
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Why Deloitte?
Our global footprintOur Global Financial Services Industry practice (GFSI) is a far-reaching network of practitioners who offer their knowledge and experience to the world’s leading financial services enterprises. It distinguishes us from our competitors by bringing emerging mangers immediate access to Deloitte’s global resources and intellectual capital around the world.
Our peopleWe have invested in training and staff allocation plans to enable our people to understand the business and culture of the complex and fast changing hedge fund industry. Given the complexity of the industry, it is natural that many of our brightest people have gravitated towards our Hedge Fund practice and the unique opportunities it offers. In turn, the quality of our people has helped us grow our practice significantly in the past few years.
The volume of regulatory change poses considerable cost and risk to emerging managers along with technological, operational, and strategic challenges. Our Regulatory Consulting practice, comprising more than 600 professionals nationwide, is well positioned to assist and is dedicated to helping our clients adapt to the industry’s complex and ever-shifting regulatory landscape.
Our industry insightsThe Deloitte Center for Financial Services (“The Center”) is a think- tank which provides insight and researches capabilities to help evaluate the global business performance of investment management, banks, insurance, and real estate organizations. The Center helps financial institutions understand and address emerging developments in risk and information technology, regulatory compliance, growth opportunities, and cost management.
We actively host a wide range of technical updates and roundtables on current industry topics, including our Hedge Fund Symposium Series. This Series is the practice’s signature affair and one of the most prestigious events on Deloitte’s calendar. The Series brings together over 1,000 industry thought leaders
We serve significant hedge fund communities in Dublin, London, Luxembourg, Hong Kong, Bermuda, and the Cayman Islands
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and professionals from across the U.S. and globally to discuss the future of the hedge fund industry including key opportunities, challenges, and trends.
Our Dbriefs webcasts are designed to provide industry insight and strategic advice to hedge professionals. Representative Dbriefs include:• Investment management
accounting and tax update• Cyber Security: Evolving
Approaches in a More Complex World
• Business Development Companies: A Good or Bad Play?
• Base Erosion and Profit Sharing: What the OECD Rules mean for funds
Seeder benefits For emerging managers taking in seed capital, there are considerable benefits on your side:• State of the industry tax structuring
to meet the needs of all parties • As desired, we can work with
the seeder to confirm consistent and transparent financial and tax reporting
Our relationshipsLasting relationships are established by building a strong foundation and identifying strategic opportunities on which we can work together. We have deep relationships with the major prime brokers, administrators, attorneys, regulators, and other service providers to support emerging managers in achieving both immediate and long term goals.
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Our emerging manager platform offers traditional services like audit, tax compliance, and fund structuring on a sliding fee scale that keeps pace with the manager’s growth. Considering your business and priorities, we offer non-traditional services including general partner and international tax planning, regulatory and compliance, and technology and operations to help you look at any issue in a new way, challenge a current process, or seize a new opportunity.
How can Deloitte assist emerging managers?
Audit and Attest Services Tax Services Governance, Regulatory andRisk Services
Operations and Technology Services
External audit
Reporting, accounting, and advisory solutions
Performance verification
Management company structuring, budgeting, and assistance with start-up issues
Exam of management’s assertions regarding custody of client assets
Tax compliance Partnership tax returns including K-1 completion
Informational returns including with-holding filings, FBAR filings, PFIC/CFC filings, and compliance with FACTA, UK DOT and Common Reporting Standards
Tax structuring International structuring including Base Erosion & Profit Sharing (BEPS) considerations
Management company structuring
Tax planning Integrated planning between funds, advisors, and principals
International investing
Compensation and employment
Withholding tax planning
Portfolio trading planning• Loss recognition
Launch package
Value-added services
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Audit and Attest Services Tax Services Governance, Regulatory andRisk Services
Operations and Technology Services
Compliance program assessment and development including fraud controls
Mock regulatory examinations
Forensic testing
Service provider oversight program development
Records management programs, including forensic technology matters
Regulatory reporting
Hedge fund risk diagnostic
SSAE 16 (formerly SAS 70)
Valuation policy and procedures development
Fund launch assistance
Investor due diligence preparation
Operating model design
Hedge fund service provider selection including commercial due diligence
Integrity due diligence
Middle and back office process implementation
Investor relationship management
Technology strategy
Technology vendor assessment, selection, and implementation
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Leadership contacts
U.S. Practice LeaderPatrick HenryPartnerDeloitte & Touche LLP+1 212 436 [email protected]
Global Practice LeaderCary StierPartnerDeloitte LLP+1 212 436 [email protected]
Asia Pacific Practice LeaderJennifer QinPartnerDeloitte Touche Tohmatsu+86 10 8520 [email protected]
EMEA Practice LeaderVincent GouverneurPartnerDeloitte LLP+352 45 145 [email protected]
US Hedge Fund Leader Ted DoughertyPartnerDeloitte Tax LLP+1 212 436 [email protected]
EMEA Hedge Fund Leader Brian ForresterPartnerDeloitte & Touche LLP+ 1 353 1 417 [email protected]
BermudaMark BaumgartnerPrincipalDeloitte & Touche Bermuda Ltd+1 441 299 [email protected]
BostonRick AllenPartnerDeloitte & Touche LLP+1 617 437 [email protected]
Ken KessDirectorDeloitte Tax LLP+1 617 437 [email protected]
Cayman IslandsNorm McGregorPartnerDeloitte & Touche Cayman Islands+1 345 814 [email protected]
ChicagoEric MarmollDirectorDeloitte Tax LLP+1 312 486 [email protected]
Tyson MayPartnerDeloitte & Touche LLP+1 312 486 [email protected]
Amy RogowskiPartnerDeloitte Tax LLP+1 312 436 [email protected]
Connecticut Brian CarrollDirectorDeloitte & Touche LLP+1 203 708 [email protected]
David EarleyPartnerDeloitte Tax LLP+1 203 708 [email protected]
Eric FoxPrincipalDeloitte Tax LLP+1 203 905 [email protected]
DallasRobert CowleyPartnerDeloitte & Touche LLP+1 214 840 [email protected]
Tom WagnerPartnerDeloitte & Touche LLP+1 214 840 [email protected]
Charla ParettePartnerDeloitte Tax LLP+1 214 840 [email protected]
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DublinMike HartwellPartnerDeloitte & Touche, Ireland+1 353 1 417 [email protected]
Deirdre PowerPartner, TaxDeloitte & Touche, Ireland+1 353 1 417 [email protected]
LondonAllee BonnardPartnerDeloitte LLP+44 20 7303 [email protected]
Los AngelesTony BerbigliaPartnerDeloitte & Touche LLP+1 213 553 [email protected]
Shawn McKennaPartnerDeloitte Tax LLP+1 213 553 [email protected]
Jose SarabiaPartnerDeloitte & Touche LLP+1 213 996 [email protected]
Lisa SergiPrincipalDeloitte Tax LLP+1 213 688 [email protected]
David BenzPrincipalDeloitte Tax LLP+1 213 996 [email protected]
LuxembourgDavid CapocciPartnerDeloitte Luxembourg+1 352 45145 [email protected]
New YorkRoger ArrieuxPartnerDeloitte & Touche LLP+1 212 436 [email protected]
Joseph FisherPartnerDeloitte & Touche LLP+1 212 436 [email protected]
Varsha GopalDirectorDeloitte Tax LLP+1 212 436 [email protected]
Edward HollywoodDirectorDeloitte & Touche LLP+1 212 436 [email protected]
Leo MirandaDirectorDeloitte & Touche LLP+1 212 436 [email protected]
Orange CountyMatt HoffmanPartnerDeloitte & Touche LLP+1 714 436 [email protected]
Tim MundyPartnerDeloitte & Touche LLP+1 714 241 [email protected]
San Francisco Joseph MassuccoDirectorDeloitte Tax LLP+1 415 783 [email protected]
Jared ThearPartnerDeloitte & Touche LLP+1 415 783 [email protected]
Washington D.C.Bryan MorrisPartnerDeloitte & Touche LLP+1 703 885 [email protected]
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