ML Capital has announced that Para Advisors, 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 Para’s flagship US 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 “We 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 Capital’s commitment to bring experienced and talented fund managers with proven track records to the rapidly expanding UCITS investor base.”

Ned Sadaka, President of Para Advisors LLC, said “Para 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.”