Opalesque Industry Update - ML Capital has today announced that Para Advisors LLC, a New York based event driven fund manager with a current AUM of $350 million, will shortly launch the Para International UCITS Fund on the MontLake UCITS Platform. The UCITS fund will be managed in the same investment style as Paraís flagship U.S. offering, an event driven multi-strategy fund that has an annualized compounded net return of 11.5% since its founding in 1991. |
John Lowry, Chairman of ML Capital said ďWe are delighted that Para Advisors has chosen to partner with ML Capital to launch their UCITS Fund. The UCITS space is still vastly underserved by the leading US hedge fund managers and the launch of the Para International UCITS fund is another illustration of ML Capitalís commitment to bring experienced and talented fund managers with proven track records to the rapidly expanding UCITS investor base.Ē
Ned Sadaka, President of Para Advisors LLC said ďPara 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.Ē
UCITS are liquid, transparent and easy to access, and therefore provide an ideal asset allocation tool for investors. The Para International UCITS Fund is targeted to launch on the 1st of July 2011, subject to regulatory approval.
About Para Advisors LLC
Para Advisors seeks to invest opportunistically in distressed securities, relative value trades, capital structure arbitrage, merger arbitrage, and other special situations consisting of restructurings, recapitalizations, spin-offs, asset sales, as well as long-term valuation plays. Para Advisorsí six-person investment team facilitates research and identification of investments in a broad range of extraordinary corporate events. Para Advisors seeks attractive risk-adjusted returns by pursuing a diversified, risk-controlled, multi-strategy investment approach.
About ML Capital Asset Management
ML Capital prides itself on delivering exceptional client service premised on a detailed understanding of the needs of its clients matched with a proven track record in providing sound investment advice. Our senior partners have a combined experience of over 70 years in the investment-management industry in key areas incorporating manager due diligence, portfolio management, operations and risk management.
About The MontLake UCITS Platform
Funds placed on the platform by ML Capital will benefit from top-tier service providers including Citi for custody, administration and trustee services, KPMG for audit, and Bridge Consulting for oversight and directorships. ML Capital has also ensured that managers utilising the MontLake UCITS Platform will have unfettered access to a network of the leading prime brokerage firms.