California-based hedge fund firm Universa Investments is moving its headquarters across the country.
Miami Herald Business reported that Universa is relocating to Miami on March 1 to take advantage of the city’s business and tax-friendly policies. Universa founder and chief investment officer Mark Spitznagel also said that Miami’s emerging financial sector and better access to Latin American and European investors prompted the move.
According to an earlier eVestment report, hedge fund professional are flocking to Florida to take advantage of the state’s no income tax benefit. The demand for industry professionals to relocate to the region is so high that officials in Palm Beach County have launched an office just to answer questions.
Edward Lampert's ESL Investments is one of the firms that has already relocated to the Sunshine State. It moved last year from Connecticut.