Could British territory Gibraltar become the next hedge fund capital?
The New York Times reported that Gibraltar government officials attended a hedge fund conference in Brazil last month to promote the territory’s stability, access to the European Union and low taxes.
Gilbert Licudi, the territory’s minister of financial services, said in an interview with the Times that “Gibraltar was a natural bridge to connect European investors’ surging appetite for Latin America,” however it faces competition from more established hedge fund locales, such as Dublin and Luxembourg.
The article added that Gibraltar,which sits on a small peninsula at the mouth of the Mediterranean Sea south of Spain, will fight an uphill battle with Latin America as most hedge funds in the latter region are focused on the domestic market and Gibraltar is virtually an unknown territory in Brazil and the rest of Latin America.
Gibraltar’s aim to gain presence in Latin America is just the tip of the iceberg; Licudi will travel to New York next month to meet with several hedge fund firms.