A private equity firm from Switzerland will launch its U.S. headquarters in South Florida as it looks to expand stateside after 15 years in Europe.
Ufenau Capital Partners will open its first U.S. office later this month in a Quest Workspaces coworking space at 777 Brickell Ave. in Miami’s financial district.
He said Ufenau chose a coworking space for the flexibility in lease terms and ability to quickly expand its footprint as needed but added that the firm may eventually opt to move to a dedicated office.
As for Ufenau’s decision to launch U.S. operations from South Florida, Monga pointed to the region’s economic momentum, pro-business policies and status as an emerging financial hub, with a growing number of private equity and venture capital firms.
The tri-county region’s high quality of life, warm climate and global connectivity with multiple international airports were also draws, he said.
Ufenau, which was founded in 2011, reports a total of about 80 employees at its global headquarters in Switzerland and other offices across Europe. The firm has more than 5 billion euros ($5.8 billion) in assets under management and has invested in nearly 500 companies, according to official figures. It says it specializes in investing in founder-owned service businesses.
In recent years, there’s been notable growth in the number of private equity firms establishing footholds in South Florida, alongside a broader expansion of the region’s role in the finance industry as “Wall Street South.”