Petrus Advisers has re-domiciled its Petrus Advisers Special Situations Fund from Jersey to the Cayman Islands.The decision to move the fund came as a result of investor demands, enabling institutional investors to invest in the fund and creating an internationally comparable investment product.

The Special Situations Fund seeks to generate high returns from liquid long/ short trading in the Continental European region. It is managed by a team of experienced investment professionals, based in London and Bratislava, with regional investment banking track records. The team includes managing partner and founder Klaus Umek (previously head of investment banking of Austria and CEE at Goldman Sachs), Michael Sieghart (previously deputy head of European equities at DWS/ Deutsche Bank), Alvier Almeida (previously at Caixa Banco de Investimento and Banco BPI) and Jozef Martinak (previously at Slavia Capital).

The portfolio management team is also assisted by its senior adviser Patrick Butler (previously board member at Raiffeisen Bank International for markets/investment banking) in London. The team collectively has over 70 years of industry experience.

Carne Group, a provider of governance and oversight solutions for the fund management industry, assisted Petrus by providing institutional grade governance and oversight services from its Cayman Islands and Swiss offices.

Sieghart says: "We enjoy working with Carne to assist us with the governance of our fund. We value Carne's extensive experience and their market leading knowledge."

Chris Day, director at Carne in London, says: "The addition of an institutionally recognised governance solution to support Petrus Advisers will help them to meet the enhanced oversight requirements many institutional investors now apply to offshore funds."