Para Advisors, an event-driven hedge fund manager with approximately USD200 million of assets under management, has expanded its relationship with Maples Fund Services to include administration for the firm’s onshore funds.
Maples Fund Services has served as administrator for Para’s offshore fund since early 2010.
Para had previously handled administration for its US onshore funds internally. Maples Fund Services was awarded the onshore business to help Para stay ahead of growing industry needs for more independence and transparency.
“The expansion is a testament to our value of independence, client excellence, customised approach, and our ability to service both onshore and offshore funds,” says Toni Pinkerton, Global Head of Maples Fund Services. “We are committed to supporting Para as its business grows.”
Para launched its flagship onshore fund in 1991. The investment strategy of the onshore funds consists of a multi-strategy event-driven approach, similar to the strategy used for Para’s offshore fund.
“We are pleased to expand our relationship with Maples Fund Services to now include administration of our US domestic funds. Maples has continuously exceeded our expectations for service and responsiveness, and we look forward to further deepening our relationship with them,” says Ned Sadaka, President of Para Advisors.
