Browse: Home / Economic Development / Hedging All Bets

Menu

Skip to content
Header image

FORWARD FloridaLogo

Economic Development News

Menu

Skip to content
  • Topics
    • Agribusiness
    • Arts
    • Charities
    • Construction & Development
    • Economic Development
    • Education
    • Energy
    • Entertainment
    • Entrepreneurship
    • Environment
    • Finance
    • Health Care
    • Human Resources
    • Law
    • Legislative
    • Manufacturing
    • Marketing
    • Nonprofits
    • Real Estate
    • Retail
    • Small Business
    • Space
    • Sports
    • Technology
    • Tourism
    • Trade
    • Transportation
  • International
  • Blog & Videos
    • Blog
    • Videos
  • Media Kit
stack of money

Hedging All Bets

Posted by Forward Florida Staff on June 23, 2015 in Briefs, Economic Development | Leave a response
  • Twitter
  • LinkedIn
  • Facebook
  • Email

With apologies to Horace Greeley and the cause of Manifest Destiny, hedge funds have caught the migratory fever and are loading up their wagons — albeit with office furniture — and pursuing new frontiers such as South Florida, which is viewed as being rife with opportunity (and wealthy residents).

New York-based SkyBridge Capital joined those ranks in March when it added a Palm Beach Gardens office. The site will serve as regional headquarters for Southeast sales and marketing. The $12.5 billion firm attributes its decision to the encouragement of local economic development officials, high-net-worth potential clients and existing SkyBridge clients.

London-based RWC Partners then announced in May it was establishing an Emerging, Frontier and Asia equity business effort, with a 15-person investment team previously at Everest Capital, and opening a new office in Miami to support activities. In conjunction with the Miami announcement, the $10.1 billion firm announced plans to open an office in Singapore.

These moves are part of a concerted initiative of local officials to attract high-volume investment firms to South Florida. The Miami Downtown Development Authority understood the possibilities in 2013 and launched its own campaign. The first fruit emerged in April 2014 when Universa Investments LP, and its $2 billion portfolio, relocated its Santa Monica, Calif., headquarters to Coconut Grove.

The reasons for these moves aren’t the same as American settlers heading west in the mid-1800s. Yet, they are compelling. The families of top executives are attracted to the quality of life, year-round sunshine and good schools. Also, the firms are being enticed by cost-effective real estate options, financial incentives from local governments — with Gov. Rick Scott taking to the phones to assist — and no state income tax.

  • Twitter
  • LinkedIn
  • Facebook
  • Email
Posted in Briefs, Economic Development | Tagged Gov. Rick Scott, i.c.y.m.i., investments, real estate

About the Author

Forward Florida Staff

Forward Florida Staff

Related Posts

The Bluffs, Northwest Florida’s Industrial Campus rendering‘The Bluffs’ Real Deal in Northwest Florida→

West Palm Beach skylineFocus on Palm Beach County Development→

tridentFlorida’s Poseidon Adventure→

Mayor Buddy Dyer at WrestleMania press conference in OrlandoWrestleMania Returns to Orlando→

  • Facebook
  • Google Plus
  • Instagram
  • LinkedIn
  • RSS Feed
  • Twitter
  • YouTube

Most Popular

  • solar panels surrounding globe

    Florida’s Babcock Ranch: First Solar Powered City in U.S.

    March 23, 2016 / Tony Taylor
  • James Bond

    James Bond in Florida

    November 9, 2015 / Joel Brandenberger
  • Christmas decorations on sand

    Unique Gift Ideas for the Florida Enthusiast in Your Life

    December 22, 2015 / Krystina Ramos
  • Panama Canal Expansion, Ripple Effect to Florida

    March 5, 2014 / Susan Revello
  • vintage television

    Top 5 Florida TV Shows

    May 20, 2015 / Joel Brandenberger

©2022 Forward Florida Media Inc.

Menu

  • Contact Us
  • About Us
  • Privacy Policy
Send this to a friend