Financial services consulting firm Kinetic Partners is expanding its Cayman Islands team as more hedge fund firms are expected to liquidate during the current financial crisis.
Nick Matthews and Malin Nilsson are relocating from Kinetics’ London office to the Cayman Islands. They will be working with Geoff Varga on forensic accounting, corporate recovery and hedge fund liquidations.
The majority of the worlds’ hedge funds are based out of the Cayman Islands, Kinetics noted in a statement. Greater calls for redemptions and hedge fund failures will mean an increased need for the kind of accounting, restructuring and litigation support that the firm provides, Varga said.
Kinetics was chosen by investors to act as the liquidator in the case of the two Bear Stearns funds that collapsed last spring. The firm replaced KPMG which had been chosen by Bear Stearns.