MIAMI, March 28, 2017 /PRNewswire-USNewswire/ -- The investment firm, Alexander Alternative Capital, is pleased to announce founder Michael Corcelli is featured on the cover of the March 2017 South Florida Business & Wealth Magazine.
As the lead commentator for the cover article entitled, "More Than a Dream, Hedge Funds & Other alternative investment firms flood into Florida," Corcelli notes that fund managers based in the Northeast, California, Europe, and Latin America are increasingly finding Florida as an attractive location for bases of operations or satellite offices.
"The number of firms in our association has doubled in the last three years," Corcelli told the magazine. "And so have assets under management."
The article cites Newlink Group of Miami, which calculates that Florida is now the home to more than 200 family offices, almost 20 private equity firms and more than 50 hedge funds.
In the article, Corcelli notes that there are multiple factors that have made Florida attractive to hedge fund and money management firms.
- Florida's "friendly tax environment (no personal income tax and estate tax).
- The low cost of office space when compare to larger metropolitan areas such as New York.
- A large number of wealthy retirees and "snowbirds" or seasonal residents who live in Florida.
Since 2007, Corcelli, who is the founder of the Florida Alternative Investment Association, has worked tirelessly to market Florida as a highly desirable location for the alternative investment industry. He has also served as a point man for firms expressing interest in learning more about the advantages the state has to offer.
Nanette Aguirre, a shareholder at the law firm of Greenberg Traurig, a specialist in derivatives contracts and a board member of FLAIA, told South Florida Business & Wealth that the trend toward Florida started with the federal Dodd-Frank reforms after the financial crisis. She said taxes for managers can be much lower for those domiciled in Florida.
For further information about Florida's investment climate for money managers, contact Michael Corcelli, 786-574-5165; or firstname.lastname@example.org.
ABOUT Michael Corcelli:
Michael Corcelli is the Chief Investment Officer of Alexander Alternative Capital, a global asset manager since 2006. Corcelli is the founder of the Florida Alternative Investment Association (FLAIA).
Founded in 2007, the Florida Alternative Investment Association is an exclusive not-for-profit trade association, dedicated to informing and uniting the growing population of Florida's Alternative Investment cluster. For more information, visit http://flaia.org/
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SOURCE Alexander Alternative Capital GP, LLC