Tuesday, 21 February 2017
Last updated 3 days ago
May 17 2011 | 8:21am ET
Para Advisors, a $350 million alternative asset specialist, will launch the Para International UCITS fund on the MontLake UCITS platform with the assistance of ML Capital.
The UCITS fund will employ the same investment style as Para’s flagship U.S. offering—an event-driven multi-strategy fund that has generated annualized compounded net returns of 11.5% since 1991.
Ned Sadaka, president of Para Advisors said, “Para is very excited about the upcoming launch of our UCITS fund on the MontLake platform. We believe our longstanding focus on the more liquid event-driven situations, both in the equity and distressed debt components of our event-driven strategy, make Para particularly suitable to deliver a full and robust event-driven portfolio to investors within the UCITS format.”
The Para International UCITS Fund is targeted to launch on July 1, 2011, subject to regulatory approval.
The MontLake UCITS Platform, domiciled in Ireland and regulated by the Central Bank of Ireland provides investment managers with a turnkey solution for launching a UCITS fund under its umbrella structure.