RBC Dexia Investor Services has been selected by Paratum Inc, a Beverly Hills, California-based firm, to provide custody, fund administration, shareholder services, domiciliary and financial reporting services for a new Luxembourg-based private equity SICAV-SIF fund. The fund was structured with the help of major law firms Loyens & Loeff (Luxembourg office) and Sadis & Goldberg (New York office).
The fund is an umbrella fund with several sub-funds, the first of which (the US Renewable Energy feeder fund) has as its objective 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 Dexia’s depth and breadth of experience in Luxembourg, complementary global footprint and consultative approach were ideal for us” said Aaron Sokol, principal, Paratum Inc. “We feel our product is unique and RBC Dexia’s tailor-made service solution will provide our fund and our company every opportunity to grow and prosper.”
Paratum’s recent launch of their US Renewable Energy Feeder Fund in a SICAV-SIF format was extremely well received by the institutional and retail investment communities. Through investment in the master fund, the sub-fund will gain exposure to principally control investments in a diversified portfolio of asset-based renewable energy opportunities, focused on renewable power, clean fuels and the renewable energy value chain.
Simon Shapland, head, Europe sales and distribution for RBC Dexia Investor Services, commented: “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. Paratum’s selection of RBC Dexia further strengthens our US offshore strategy and helps solidify our expertise in servicing these types of Luxembourg-based funds.”
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