Alpha Innovations
Global Fund Platforms
Cost-Effective Onshore & Offshore Funds
The AI Fund Platforms
Alpha Innovations has created two distinct fund platforms to allow select asset management firms to launch new funds quickly and inexpensively. Both were designed to meet the exacting specifications of institutional investors while offering tremendous cost efficiency through economies of scale.
With best-in-class service providers and innovative structuring, the AI fund platforms provide quality PM teams with an elegant fund launch solution that boasts the ultimate in flexibility.
Alpha Innovations ICAV
Irish-Domiciled QIAIF Umbrella Fund Platform
An onshore Europe fund platform for investment managers seeking to launch commingled funds which can be distributed worldwide.
Key Features:
U.S. Taxation: Corporation (PFIC Reporting Available)
Audit: KPMG (Ireland)
Legal: Pinsent Masons (Ireland)
Administrator: Northern Trust (Ireland)
Depository: Northern Trust (Ireland)
AIFM: DMS Governance
Prime Brokers: Varies
The Laureates Fund Platform
Bermuda-Domiciled Umbrella Fund Platform
A flexible platform that allows for the launch of both onshore and offshore funds with top-tier service providers and very low fund launch and overhead costs. Master and feeder structures are both supported.
Key Features:
U.S. Taxation: Variable by fund – Partnership (K1s) or Corporations (PFIC)
Audit: KPMG (Bermuda)
Legal: Walkers (Bermuda)
Administrator: Apex Fund Services (Bermuda)
Prime Brokers: Varies
Meet our Management Team
Launching a commingled fund is difficult for most investment managers as the selection and negotiation of legal structures, domiciles, and service providers is daunting without the requisite expertise. Leverage the experience of our management team.
Platform Facts
Questions And Answers
Yes. Within our Bermuda fund structure, each fund can separately elect to be treated as a partnership for U.S. tax purposes. We can therefore host master and feeder structures within the same umbrella structure.
Our Irish ICAV platform enables ease of distribution across the EU member countries and has elected to be treated as a corporation for US tax purposes. Both Non-US and US investors can invest in funds in the ICAV. US investors can be provided PFIC reporting (similar to K1s) or elect to invest through a Bermuda feeder fund.
With respect to prime brokers and executing brokers, the PM teams have discretion in who to use, subject to diligence and “pipes” being in place between our OMS/PMS infrastructure/admins/prime brokers.
For administrators and auditors, we already have top-tier service providers but can discuss strategy-specific needs of PM teams.
For our Irish ICAV, PM teams should plan on 8-10 weeks once initial drafts of the fund supplement are submitted to our legal counsel.
For the Bermuda structure, 3-5 weeks is typical for most funds.
Given that the bulk of the heavy lifting on the legal side is at the platform level and is already done and paid for, new funds can be launched on our platforms for a small fraction of the typical fund launch cost, and with the support of the most highly respected legal firms.
Both fund structures have their merits. For funds that are intended to be marketed within the EU, our Irish ICAV structure is the preferred choice. However, for funds that are starting with less AUM or don’t intend to market into the EU, our Bermuda fund platform is the more cost-effective choice.
Maybe. While these platforms have been designed to host funds launched by Alpha Innovations and its subsidiaries, we are willing to host persistent alpha producers on these platforms on a highly selective basis (and subject to regulatory authorizations).
While both Bermuda and the Cayman Islands are respected British overseas territories, Bermuda has a stand out reputation in compliance with European and international tax rules. Bermuda has been on the EU “white list” of cooperative jurisdictions for quite some time, demonstrating its commitment to international tax and AML/ATF cooperation. The Cayman Islands are currently whitelisted as well, but were only recently removed from the EU “black list.” Also, Bermuda’s closer proximity to New York and London provides ease of facilitation of board meetings.
Within the Bermuda structure, we have built in the ability to issue digital (liquidity) share classes, which affords these funds the option to be traded on regulated ATSs or exchanges, if desired. While this is not yet permissible within an Irish ICAV structure, we can facilitate the potential for liquidity for funds in our ICAV via our Bermuda structure.
Yes – this is possible within our Bermuda fund structure. Depending on the US tax elections of the particular fund, such board member may need to be a non-US resident.
Yes. For high quality investment managers who want to launch a cost-effective fund with top tier service providers, we can host the funds on either our Irish or Bermuda platform, subject to due diligence.
Yes – that is one feature that makes our platforms unique.
No. We are a regulated asset manager and will partner with independent third-party administrators to service funds on our platforms. Our recommendation on administrator is dependent upon strategy competencies, pricing, etc.