The Cayman-based Caledonian Group has opened a US operation in Chicago. Caledonian Fund Services (USA) LLC will provide US onshore fund administration and tax consulting services to hedge funds and fund of funds.
The new operation is a venture between the Caledonian Group and The Gabriele Group. Indeed, the new company will be headed by Jim Gabriele, with another CPA, Allan Gabriele, as Tax Director.
Establishing a presence in Chicago demonstrates our commitment to the fund administration business, says Ali Mudeen, Director of Marketing and Strategic Development at Caledonian. We are especially pleased to announce this venture, which gives our clients turnkey access to back and middle office expertise, plus helps Caledonian achieve its strategic initiatives. Caledonian Fund Services (USA) LLC is a significant achievement in Caledonians expanding product offering and jurisdictional coverage and a key component of the groups fund services strategy. This venture will allow us to be more responsive to the needs of our US based clients utilizing our best of breed fund services technology platform.
Caledonian Fund Services offers fund accounting, registrar and transfer agency, corporate secretarial, web-based reporting, anti-money laundering compliance and fund of fund custody to offshore funds from offices in the Cayman Islands and the Isle of Man. Caledonian Fund Services (USA) LLC will provide US onshore fund administration and tax consulting from its Chicago office, while Caledonian Bank & Trust Limited will provide banking facilities from its head office in the Cayman Islands.
The Caledonian Group has a staff of 135, and has operations in the Cayman Islands, Isle of Man, Chicago, New York and BVI. The Gabriele Group is a fund accounting firm in Chicago.