Gottex Brokers opens first office in US
Gottex Brokers has opened its first office in the United States, focusing on brokerage services in the secondary market for alternative investments.
The US-based business of the interdealer broker in interest rate derivative products, Gottex Brokers Alternative USA, will be based in Los Angeles and will act as an intermediary between US institutional investors buying and selling secondary interests in hedge funds, private equity funds and real estate funds.
It is a subsidiary of Gottex Brokers Alternative domiciled in Lausanne, Switzerland, whose team provides tailored broking services to the European and other non-US markets.
The secondary market for alternative investments enables sellers to address liquidity constraints caused by the extension or suspension of redemption periods and lock-ups, the firm explains.
It enables holders of illiquid assets to reduce exposure to distressed assets and rebalance their portfolios and offers potential buyers access to limited partnership interests, Limited Liability Company memberships or interests in other organizational forms.
Raphael Moreno, CEO of Gottex Brokers Group said: “Volatility in the secondary markets for alternative investment shares has risen markedly in the past years and we have seen increased demand for investors to rebalance portfolios and to exit illiquid positions.”
The US company will be run by Bruno Bardavid, who has more than 25 years of experience in financial services. Before joining the firm, he developed the credit trading markets for Mizuho International and West LB in London.
Bardavid called the US, “the most important market for secondary transactions in the area of alternative investments.”
Gottex Brokers Alternatives USA will manage relationships with hedge funds, funds of funds, family offices, third party asset managers, public entities and sovereign wealth funds, private and investment banks, investment advisors and pension funds.