Gifford, Hillegass & Ingwersen, an Atlanta-based accounting and advisory firm, has opened its doors in the Cayman Islands to serve the region’s significant hedge fund and alternative investment fund population.  

The new office will also assist captive insurance companies and other offshore entities, supported by a team with experience in providing fund clients with tax, audit and consulting services.

Current fund clients range in size from start-ups with “a few partners” to funds with “several hundred million dollars and over 100 partners,” the firm said.

“The establishment of a GH&I office in the Cayman Islands is an important strategic move to efficiently serve our alternative investment clients and established niche practice,” said Andrew Siegel, GH&I tax partner and leader of the firm’s alternative investment group.

“The Cayman Islands continue to be one of the preferred domiciles for hedge funds and thus, an attractive environment for financial and professional service providers,” Siegel added. 

Jay Robbins, a senior manager in GH&I’s alternative investment group, said the firm has completed a “stringent” due diligence and review process required by the Cayman Islands. “We now have the ability to expand our niche expertise to serve existing and new clients who want to establish an offshore fund. We can serve those who otherwise would have required a large international firm to perform their audit,” he explained.