Alpha Innovations

Global Fund Platforms

Cost-Effective Onshore & Offshore Funds

The AI Fund Platforms

Alpha Innovations has designed fund platforms which bridge proven investment managers and institutional investors.  

The choice of platform which we would recommend to an investment manager is dependent upon initial/expected AUM of the fund and the domicile and tax characteristics of the investor base.  

Thus far, we have created two cost-effective platforms with best-in-class service providers to give our PM teams the ultimate in flexibility. 

Alpha Innovations ICAV

Irish-Domiciled QIAIF Umbrella Fund Platform

An on-shore Europe fund platform to enable investment managers to launch commingled funds with a least ~$30-50MM and can benefit from global distribution including “passporting” across EU-member countries via AIFMD. PFIC reporting for US-resident investors.

Key Service Providers:

Audit:  KPMG (Ireland)

Legal: Pinsent Masons (Ireland)

Administrator:  Northern Trust (Ireland)

AIFM:  DMS Governance

Prime Brokers:  Soc Gen

 

The Laureates ISAC Ltd

Bermuda-Domiciled Umbrella Fund Platform

A flexible platform to enable investment managers to launch either on-shore (“US Partnership”) and offshore (“Corp”) funds with top-tier service providers with initial AUM of $10-30MM. 

These funds can also serve as cost-effective feeder funds to other Laureates master funds or master funds on the Alpha Innovations ICAV platform.

Key Service Providers:

Audit:  KPMG (Bermuda)

Legal: Walkers (Bermuda)

Administrator:  Apex Fund Services 

Platform Manager:  Alpha Innovations Ltd.

Prime Brokers:  varies

“We forfeit three-fourths of ourselves in order to be like other people.”

Arthur Schopenhauer, 1788-1860, German philosopher

Meet our Management Team

The decision to launch a co-mingled fund is difficult for most investment managers with the selection and negotiation of legal structures, domiciles, service providers daunting.  Leverage the experience of our management team…

important things you should know

Questions And Answers

Within our Bermuda fund structure, each fund can separately elect to be treated as a partnership for U.S. tax purposes. Thus, yes, we can 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 the fund.  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 as to 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. 

Typically, for our Irish ICAV, PM teams should plan on 6-10 weeks once initial drafts of the fund supplement is submitted to our legal counsel.  

For the Bermuda structure, 3-5 weeks is typical for most funds.

Given that much of the heavy lifting on the legal side is at the plaform level which is already done and paid for, we typically budget ~EUR10K/$10K respectively for subsequent fund legal fees + disbursements.   As most know, this is a small fraction of what investment managers get charged to launch onshore/offshore funds.

Within the Bermuda structure, we have built-in the ability to issue digital (liquidity) share classes of funds.  While this is not yet permissible within our Irish ICAV, we can set up feeder funds into our Irish ICAV master funds which can issue digital securities.

Yes – this is possible within our Bermuda fund structure where the PM team can appoint a board member to the fund.  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 that need a cost-effective fund with top-tier service providers, we can host the funds on either our Irish or Bermuda funs platforms subject to due diligence.

We often get asked this.  While both Bermuda and Cayman Islands are British overseas territories and highly respectable, Bermuda has a stand out reputation of complying with European and international tax rules.   Currently, Bermuda is on the EU “white list” of jurisdictions whereas Cayman Islands is on the “black list” which demonstrates Bermuda’s commitment international tax and AML/ATF cooperation.   Also, Bermuda’s closer proximity to New York and London provides ease of facilitation of board meetings.