RBC Dexia Investor Services has been selected by Paratum Inc., based in Beverly Hills, California, to provide custody, fund administration, shareholder services, domiciliary and financial reporting services for a new Luxembourg-based private equity SICAV-SIF fund.
This umbrella fund will include several sub-funds, the first being the US Renewable Energy Feeder Fund, which is designed to generate attractive risk adjusted returns by investing, through the master fund, in renewable power generation, clean fuels and renewable energy.
The renewable energy market is large and growing and as an established industry leader, we felt that RBC Dexias depth and breadth of experience in Luxembourg, complementary global footprint and consultative approach were ideal for us, says Aaron Sokol, principal at Paratum Inc. We feel our product is unique and RBC Dexias tailor-made service solution will provide our fund and our company every opportunity to grow and prosper.
Simon Shapland, head of Europe sales and distribution for RBC Dexia Investor Services, adds: Many non-resident private investment funds based in foreign jurisdictions are looking to increase the marketability of their funds in the European market using the SICAV-SIF format. Paratums selection of RBC Dexia further strengthens our US offshore strategy and helps solidify our expertise in servicing these types of Luxembourg-based funds.