Paratum, based in Beverly Hills, California, has selected RBC Dexia Investor Services to provide custody, fund administration, shareholder services, domiciliary and financial reporting services for a new Luxembourg-based private equity SICAV-SIF fund.
This umbrella fund will include several sub-funds, the first being the US Renewable Energy Feeder Fund, which is designed to generate risk adjusted returns by investing, through the master fund, in renewable power generation, clean fuels and renewable energy.
RBC Dexia Investor Services head for Europe sales and distribution Simon Shapland said 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," Shapland said.