NuVerse Advisors Hedge Fund Relocates to Miami

NuVerse Advisors LLC, a hedge fund located in New York City is relocating to Hallandale Beach.

According to Jaime Moreinis, senior project manager for NuVerse Advisors, the company officially launched its new headquarters this week in a 4,044-square-foot space on the 20th floor of the Optima Onyx Tower at 1010 S. Federal Highway in Hallandale Beach. Additionally, he said, it has reduced its New York presence to a single modest office in the Carnegie Hall Tower.

According to Moreinis, "NuVerse is expanding its presence in South Florida to service its growing international clientele looking to build and add to its multifunctional talent that consists of individuals with many decades of financial services experience."

In 2001, NuVerse was formed by managing partner Elias Saal, along with Dov Schlein and Stephen Saali. The financial markets data provider Wallmine.com reports that the company is managing $591.64 million in assets. Twelve individuals are currently employed there, according to Moreinis. In addition to its location in New York, NuVerse also maintains a location in Lugano, Switzerland.

According to Moreinis, the business had a smaller branch seal relocated to the neighborhood before it opened in Optima Onyx tower.

More than half of NuVerse's workforce will operate out of the Hallandale Beach location, which is now larger.

Since the pandemic, the South Florida region has had a greater influx of high-income households, which has boosted the local economy and led to rising rents, brokers and developers have told the Business Journal. New-to-market businesses have been setting up offices in the area as a result of the influx of CEOs and educated workers into the area. Even some companies moved their headquarters.