Mid Ocean Platform
Hamilton, Bermuda. Equinoxe Alternative Investment Services announces the launch of its MID OCEAN Emerging Manager Offshore Platform, an innovative new initiative for emerging managers to provide them with a transparent, cost-effective and time-sensitive solution for an offshore hedge fund. The Platform provides a Bermuda Segregated Accounts Company coupled with top quality services providers to enable the manager to pass the institutional due diligence requirements for a verifiable offshore product.
The total start up cost for the set up of a Bermuda Segregated Accounts Company on this platform will be under $30,000, inclusive of service providers, legal fees, government fees and legal documentation (incorporating the PPM). In comparison the cost of setting up an offshore fund with service providers would normally be in the region of $60-70,000. Additionally, year one and two audit and administration fees are subject to a significant discount reflecting the commitment by the contributing parties to the growth of the fund.
Equinoxe has partnered with Conyers Dill & Pearman, the leading offshore law firm and the directors intend to appoint PricewaterhouseCoopers, the largest accounting and professional services firm in Bermuda as auditor.