Experience

Marbury’s principals bring a unique offering to the industry due to the depth of our expertise and the diversity of our collective experience across key segments of the alternative investments industry. The principals are comprised of professionals each with over 25 years’ experience in the offshore financial services industry in key areas such as audit, financial control, investment and risk management, law and fiduciary services.

Their experience is kept current through their focus on the issues impacting the industry through membership of professional bodies – the principals and consultant are members of, amongst others, the Cayman Islands Directors’ Association, the Institute of Chartered Governance Institute, the Society of Trust and Estate Practitioners, the Law Society of England and Wales, the Cayman Islands Society of Professional Accountants and the Institute of Chartered Accountants of England and Wales. They are well-represented on bodies which are actively engaged in framing the industry in Cayman including at board level of the Alternative Investment Management Association (AIMA) in Cayman.

The principals actively collaborate and share their knowledge and experience to enable them to approach with success the complexity and dynamic nature of the industry within which they operate.

Their approach as Fiduciaries

The principals have come together to develop a common purpose to maintain the highest standards of business conduct, integrity and ethical behavior. Their existing portfolio of fund appointments, represented by some of the hedge fund industry’s best known managers and a wide diversity of strategies, is a reflection of our pursuit of that goal over the longer term. Indeed, obligations to their existing relationships demand that they maintain such standards. This requires the principals to be selective and restrained in their selection process.

They recognise that an individual has limited capacity to assume personal appointments and accordingly they are committed to regulating their number of relationships to allow them to engage in substantive and meaningful oversight – particularly during challenging times – and the provision of due attention to their role as fiduciary without the need to delegate any functions to juniors.

The principals are independent of a fund’s key service providers including the investment manager, prime broker, administrator, lawyer and auditor. They make decisions independently of each other, whether or not more than one of them is appointed to the board of the same fund.

Our approach to board composition

As the industry has matured, stakeholders now seek a balanced skill set among board members as their ideal board composition. The existence of complementary skills is such that the principals can provide that balance by providing more than one director to serve; however they are equally comfortable working with other independent fiduciaries with a similar approach to governance. Not only their own actions but those with whom we associate are subject to scrutiny. They have strong relationships with their peers in Cayman and in other jurisdictions and will willingly offer suggestions and advice based on their experience not just in terms of board composition but also with respect to instituting strong policies and procedures for corporate governance going forward.

Our relationship with Managers and Investors

Managers who work with the principals value their active engagement and collaboration with them, underscored by the recognition that the manager is not their client – their  duties are owed to the fund and its investors – and the corresponding scrutiny that this entails both of their own actions and performance and also the service delivery of the other key providers. These managers welcome their input and appreciate the role that the principals play in enhancing a fund’s corporate governance structure for the benefit of investors.

The principals approach provides fund investors with comfort that there is an experienced, knowledgeable team at the helm, allowing the investment manager to focus its resources on the job of managing the portfolio, confident that the best industry practices are employed by the fund board.

Availability

Their appointments are personal to them, demanding much of their time and attention. They personally will be available to fulfill their responsibilities as fiduciaries.

The principals have adopted the latest IT using cloud technology and can operate from any location, thus ensuring continued personal attention wherever they may be.

Other Fiduciary Roles

Although most commonly their appointments comprise members of the board of directors of Cayman Islands corporate hedge funds, they will also consider certain other fiduciary appointments including membership of the board of directors of the general partner of an exempted limited partnership, membership of an advisory board or committee of an exempted limited partnership, and appointments to the board of directors of management companies as well as similar appointments to the governing bodies of entities established in other jurisdictions.