The London-based Alternative Investment Management Association and Washington DC-based Managed Funds Association are entering into an alliance that will allow them to work together more closely and to collaborate on key industry initiatives. MFA president and chief executive Richard Baker and Florence Lombard, AIMA chief executive, said: “MFA and AIMA will develop a framework for increased cooperation on issues of common interest such as the adoption of a global, principles-based regulatory system which will unify our members across jurisdictions and foster industry-wide compliance with the highest levels of sound business practices and integrity”. Initially, MFA and AIMA will develop an information exchange, participate on each others’ boards, discuss the development of shared initiatives and collaborate on educational seminars. Eric Vincent, MFA Chairman, said: “Our members collectively represent the vast majority of alternative investment fund groups worldwide. We seek to establish a unified global industry voice, to avoid duplication of effort on common initiatives and to foster market disciplines and efficiencies for our members, counterparties and investors worldwide.”