Piquant Technologies becomes first AIFMD compliant UK hedge fund

Global professional services firm Kinetic Partners has supported Piquant Technologies LLP, a new UK-based quantitative fund manager, to become the first hedge fund authorised according to the Alternative Investment Fund Management Directive (AIFMD).

The directive, which came into force on the 22nd July 2013, will change the way EU fund managers manage their alternative investments.

Andrew Shrimpton, global head of regulatory compliance, at Kinetic Partners said: “It’s extremely rewarding for us to know that we have helped Piquant Technologies become the first hedge fund to be authorised by the FCA according to the EU AIFMD.

“To this end, we worked closely with a number of different parties to put in place the right structure and documentation needed to make sure that all of the regulatory and tax requirements were met. We were able to execute this quickly, with the transition from the original application to the new authorisation according to the AIFMD taking just three weeks.”

Kinetic’s tax, audit and regulatory teams were also on hand to provide Piquant Technologies with expert advice throughout the process, and helped the firm navigate entirely new processes, forms and regulatory permissions.

James Holloway, Chief Investment Officer, at Piquant Technologies LLP said:
“As a new quantitative manager we have been able to take a fresh approach towards everything from our diversifying scientific models to the structure of our enterprise. This gives us a solid foundation for the future. Kinetic Partners have been instrumental in bringing Piquant Technologies safely and successfully through the launch process.”

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