Parus Capital, a Moscow-based investment manager, has selected LaCrosse Global Fund Services’ LaCrosseAdmin+ and LaCrosseMBO+ offerings for daily fund administration and a post-trade outsourcing solution.
Launched in October 2009, the Parus Capital Opportunity Fund is an open-end investment fund incorporated in the Cayman Islands.
The fund’s objective is to provide long-term capital appreciation by investing primarily in equities and equity-related securities of companies based in Russia and other Commonwealth of Independent States.
The fund will invest in new names with a non-controlling interest (five per cent to 25 per cent) and will pursue an activist strategy.
"LaCrosse has been active in the Russian and CIS markets for well over a decade, dating back to its heritage of supporting the proprietary trading activities of Cargill Global Capital Markets and subsequently Black River Asset Management. Parus Capital’s decision to select LaCrosse reinforces the message that deep knowledge and experience of a fund’s strategy, markets and instruments traded are clear differentiators,” says Rob Helszajn, LaCrosse’s head of European client relations and business development. “Parus Capital and its investors will benefit from the stability and quality of the LaCrosse platform, the expertise of LaCrosse people and institutional controls around valuations, daily reconciliations, trade confirmation and cash and collateral management.”
“Parus Capital is impressed with LaCrosse Global Fund Services’ ability to provide services covering everything after the trade. The firm’s track record, advanced operational model and Moscow office led us to select LaCrosse as the fund administrator,” adds Parus Capital’s chief operating officer Alexander Mikhalev.
