TIGER 21 SETS UP SHOP IN CANADA
by Kristen Oliveri
Tiger 21, a peer-to-peer network for high-net-worth investors, is expanding its international reach and opening groups in Vancouver, Calgary, Toronto and Montreal. Prior to this, it was confined to the U.S. with groups in New York, Miami, Dallas, San Diego, Los Angeles, San Francisco and most recently in Washington, D.C.Jonathan Kempner, president, toldPAMthat the Canadian groups should be up and running by the first quarter of 2011 and have a cap of 56 members, with 14 members in each of the four locations.
Kempner explained that the firm has been witnessing the growing wealth market in Canada and thought that this was a natural extension for its business. According to a recentMerrill Lynch/CapgeminiWorld Wealth Report, Canada has an estimated quarter-million of high-net-worth investors. Additionally, Kempner said the group is hoping to have its members cross pollinate with groups in other cities, enabling the expansion of their own personal networks.
As for the future, Kempner said the firm is looking at opening offices in Chicago, but nothing has been finalized.