GEORGE TOWN, Grand Cayman, Oct. 29 /PRNewswire/ -- Underlining its
reputation as the offshore law firm of choice in the hedge fund industry,
Walkers is pleased to announce that it has been named as 'Top Offshore Law
Firm' in the 2008 Alpha Awards for hedge fund service providers, with
particular praise in the areas of hedge fund expertise and in the regulatory
and compliance field.
Based on the votes of more than 1,000 hedge fund firms which manage more
than US$1.5 trillion, Alpha Magazine compiled its rankings based on the
quality of service the firms received for the 12 months to March 31 2008.
Views on service quality were broken down into a number of broad attributes
and respondents were also asked to rate the importance of each attribute,
which was used to help calculate the overall winner.
"Receiving any award is always welcome but it is particularly gratifying
when the results are based upon the views of our clients in the investment
management community," said Jonathan Tonge, managing partner of Walkers' hedge
fund practice, who is based in the Cayman Islands. "Our success can be
attributed to the expertise and hard work of all the members of our hedge
funds group and clients can be sure of our continued devoted attention and
responsiveness at what is such a crucial time for the industry."
In addition to offshore law, the Alpha Magazine awards also recognised
excellence in service to hedge funds among accountants, fund administrators,
prime brokers and onshore law firms. Other winners included Morgan Stanley,
Shartsis Friese, Rothstein Kass & Co., and Goldman, Sachs & Co.
The rankings for the 2008 Alpha awards for hedge fund service providers
can be viewed at
http://www.iimagazine.com/Rankings/RankingsHeFuTSPRGlobal08.aspx?src=http://ww
w.iimagazinerankings.com/rankingsHeFuTSPRGlobal08/analysts1.asp~no--no__catid-
-4 (Due to the length of this URL, please copy and paste into your browser).
The recent establishment by Walkers of a specialist Distressed Funds Group
was also noted by Alpha Magazine. Formed earlier this year to assist hedge
funds affected by the credit crisis and market downturn, the Distressed Funds
Group draws on expertise from Walkers corporate, insolvency and litigation
departments in its Cayman, British Virgin Islands and Jersey offices. Amid
current market uncertainty, clients have welcomed additional specialist
services targeted towards a specific market need.
In its overview of this year's Alpha Awards, the publication noted the
brisk growth that the hedge fund industry has experienced in the Cayman
Islands, where the number of hedge funds registered with the Cayman Islands
Monetary Authority reached 10,291 as of September 30. Demonstrating
resilience in the face of the global financial crisis, there were a net 254
new hedge funds registered in the Cayman Islands in the third quarter of 2008,
taking cancellations into account.
"As has been demonstrated by the recent moves to Cayman by offshore law
firms from elsewhere in the region, the Cayman Islands remain the clear
jurisdiction of choice for offshore hedge funds. If you want to work in the
hedge fund space then you need to be here," said Mark Lewis, senior investment
funds partner at Walkers.
Walkers will host a seminar in New York on November 6 specifically
designed to examine issues relating to distressed hedge funds. 'Fighting the
Tape' will be a unique discussion on protecting and growing a hedge fund
business in volatile markets. Speakers at the event include a number of
Walkers hedge fund partners and invited guests, particularly renowned hedge
fund manager George Hall, the Founder and President of the Clinton Group Inc.;
Yolanda McCoy, Head of the Investments and Securities Division of the Cayman
Islands Monetary Authority (CIMA); and Jeffrey Rosensweig, Associate Professor
of Finance at Emory University.
A limited number of spaces remain and for more information about the event
or to reserve a seat, please contact Kim Wood at
kimberly.wood@walkersglobal.com. The 'Walkers Fundamentals' series of 'Thought
Leadership' events will be developed further over the coming months.
About The Walkers Group
From offices in the British Virgin Islands, Cayman Islands, Dubai, Hong
Kong, Jersey and London, the Walkers group provides legal and management
services to leading FORTUNE 100 and FTSE 100 global corporations and financial
institutions, capital markets participants, investment fund managers, and
growth- and middle-market companies.
The Walkers group is comprised of leading offshore law firm, Walkers; fund
services provider, Walkers Fund Services Limited; and SPV and corporate
services providers, Walkers SPV Limited, Walkers (Jersey) Limited, and Walkers
(BVI) Limited.
Walkers was ranked as the Top Offshore Law firm in the 2008 Alpha Awards
for Hedge Fund Service Providers. In 2006, Walkers was named as The Lawyer's
Offshore Law Firm of the Year, the PLC Which Lawyer? Yearbook Leading Cayman
Islands Law Firm and was one of two firms honoured as "Offshore Legal Team of
the Year" by the Society of Trust and Estate Practitioners (STEP). Walkers was
also named the Who's Who Legal Law Firm of the Year: Cayman Islands for 2006
and 2007.
For more information on the Walkers group, visit us on the web at
www.walkersglobal.com or contact us by e-mail at info@walkersglobal.com. To
contact Walkers by phone, call our Cayman Islands office at +345-949-0100.
