Tamara / 25.11.2024
This is something my firm can handle seamlessly. We can oversee the process of obtaining an ISIN through CUSIP Global Services (the U.S. National Numbering Agency), ensuring the fund is structured to meet both U.S. and international requirements. This includes addressing any concerns about compatibility with European banking systems, ensuring bankability for institutions like UBS or Deutsche Bank.
With regard to the Delaware fund solution, we have a question from a conversation with another prospect for around USD 50 million with initially one underlying. Does this portfolio format, as in a family office solution, also require a licensed promoter to be engaged if only non-bankables (PE/PD) are involved and no distribution to external parties is intended?
Keith: In the U.S., the general rule is that individuals or entities promoting or selling investment funds (such as mutual funds, hedge funds, and private equity funds) must be licensed, regardless of the state in which they operate, including Delaware. This requirement stems from federal securities laws and regulations, which apply nationwide, as well as state-specific regulations that generally align with federal standards.
In this case, our lead would be from South America and most likely has his assets in the USA. As I was told by a colleague, the client wants to invest in LatAm…