There are many large funds with offices in Miami, including Millennium, Och-Ziff, BridgeWater, Citadel, Balyasny, Point72, Two Sigma, Maverick Capital, GLG and Starwood. Citadel and Starwood moved their headquarters to Miami. Crain says Guggenheim is moving to Miami.
I don’t know about these specific finance firms but in Texas companies move corporate headquarters for tax benefits but don’t move the workers.
Space X and Tesla made a big deal about moving to Texas but it was recently announced they are closing the small engineering teams and moving the ‘engineer headquarters’ back to Silicon Valley.
Miami is definitely a hub for traditional private equity, but partially that is owners wanting lower tax and who were already splitting time between the NY area and FL. In many cases the main bulk of operations stay in the NY area, with a smallish 'HQ' in FL.
Not sure this will translate into tech oriented funds.
Comments
No.
There isn’t any large, well established old money universities that push tech innovation.
There isn’t any large, well established new money funds that give away money to spur new innovation.
There isn’t a large cohort of super nerdy, super risky people in Miami.
Miami is super sensitive to the elements, and very prone to natural disasters.
Without all cool the tech equipment in the area, the nerds aren’t going to follow.
I believe it was a made up Crypto tech hub by those trying to further enrich themselves.
billy corben mentioned "the Miami of today is the America of tomorrow". Every scam that crashes the economy originates or aggravates in Florida.
There are many large funds with offices in Miami, including Millennium, Och-Ziff, BridgeWater, Citadel, Balyasny, Point72, Two Sigma, Maverick Capital, GLG and Starwood. Citadel and Starwood moved their headquarters to Miami. Crain says Guggenheim is moving to Miami.
I don’t know about these specific finance firms but in Texas companies move corporate headquarters for tax benefits but don’t move the workers.
Space X and Tesla made a big deal about moving to Texas but it was recently announced they are closing the small engineering teams and moving the ‘engineer headquarters’ back to Silicon Valley.
Miami is definitely a hub for traditional private equity, but partially that is owners wanting lower tax and who were already splitting time between the NY area and FL. In many cases the main bulk of operations stay in the NY area, with a smallish 'HQ' in FL.
Not sure this will translate into tech oriented funds.