High quality, independent directors are increasingly considered “value added” not just by investors but also by regulators, prime brokers, service providers and tax consultants, all of whom expect the Board of Directors to provide substantive and meaningful oversight and guidance.
Directors You Can Trust
HighWater goes beyond
The philosophy that underpins everything we do is based on putting reputation ahead of earnings: we limit our relationship numbers such that we are able to perform all key functions personally, and are always available to our clients. As a result, there are natural limits to the number of directorships that HighWater principals can take on. Our focus is on maintaining a manageable portfolio of high quality clients where we can be actively engaged, build mutual trust, add value to the process, represent investor interests and manage our own risk effectively.
HighWater has a straightforward, asset-based fee structure whereby director services are provided at an annual fixed fee based on assets at the start of the year and with no incremental fees for meetings, calls, time to travel or ad hoc written resolutions taken between board meetings.
The alternative investment industry is experiencing:
Increased regulatory and investor emphasis on corporate governance
A more thorough assessment of actual and perceived conflicts of interests including the independence of directors from other service providers of the fund
An enhanced focus on the capacity of directors and their ability to commit to the fund, especially in times of stress
A rising expectation that directors will be actively engaged with the fund, holding regular board meetings and interactng with the investment manager and service providers of the fund
A growing focus on the relevant background, experience, independence, availability and commitment of directors
Increased use of complex structures requiring deeper understanding and technical experience
A tsunami of regulations, increasingly complex liquidations and industry-changing litigation
Appointing credible, knowledgeable and engaged directors is an important decision for a fund and its manager. Taking on the important responsibilities of a director is not a commodity service and not all directors are the same.
HighWater directors are in a class of their own.
What we do
Institutional investors should require independent directors who have relevant industry expertise and who will fulfill their fiduciary duties in the best interests of the fund and its investors. In an industry of growing complexity and increased regulation, investors and managers seek directors who will make a genuine contribution and not shy away from difficult decisions.
Distressed funds can find themselves without the appropriate independent board of directors to guide them through a restructuring process, an orderly realisation of assets, or a voluntary liquidation. This is where HighWater excels.
As a stepping stone to setting up a permanent office, we assist investment fund managers to establish a physical presence in the Cayman Islands, working closely with onshore legal counsel, tax and regulatory advisors.
While focusing on providing independent director services to the alternative investment fund Industry, HighWater also offers a range of ancillary services.