Petra Funds Group Enhances Private Funds with ESG Solutions

Petra Funds Group Launches Outsourced ESG Director Services

Petra Funds Group, a prominent independent private funds administrator, is making strides in the private equity and private credit landscape by launching its Outsourced ESG Director Services. This innovative offering is aimed at empowering private fund managers with essential environmental, social, and governance (ESG) expertise to enhance their operations.

Leading the charge in this initiative is Tamara Close, a seasoned professional with a notable background as a senior executive at PSP Investments and a consultant to various asset managers. Her expertise is expected to substantially elevate the quality of service offered by Petra in North America.

Understanding the Need for ESG Expertise

The introduction of Petra's Outsourced ESG Director Services comes at a pivotal time when private funds increasingly recognize the importance of sustainability. These services allow private funds to engage an experienced ESG professional on a fractional basis, effectively acting as an extension of the firm's internal team. This model is particularly advantageous for firms that either lack in-house sustainability executives or require additional support as they navigate an evolving regulatory environment.

Furthermore, this offering not only provides immediate access to ESG expertise but also includes comprehensive services such as launch advisory for sustainable funds, portfolio monitoring, exit planning, and meticulous LP and regulatory reporting. It addresses the growing need for tailored solutions in a competitive and demanding investment climate.

Client-Centric Approach

As stated by Stephen Coats, Co-Founder and Managing Partner at Petra, there is a burgeoning demand for sustainability expertise. "We are responding to the needs of limited partners and regulators, providing cost-effective and flexible access to seasoned sustainability professionals," he mentioned. This proactive approach allows firms to implement best-in-class ESG programs, ultimately enhancing their market position.

The Team Behind the Initiative

The strength of Petra's ESG offering is further fortified by a team of experienced professionals well-versed in both U.S. and European LP landscapes. Charlie Chipchase, Managing Director and Head of Europe, emphasized the relevance of Tamara's extensive background in the industry. Her insights regarding what limited partners value in sustainable investments are invaluable.

Together, they represent a formidable unit dedicated to ensuring clients receive superior service tailored to their specific needs within the realm of sustainable investing.

Tamara Close: A Leader in ESG Strategy

Tamara Close brings over 25 years of combined experience in financial markets and ESG strategy to Petra. Her journey includes key roles across various sectors, enriching her expertise in sustainable investment practices. Before joining Petra, Tamara founded Close Group Consulting in 2017, specializing in ESG strategy and due diligence, after a significant tenure at PSP Investments.

"Joining Petra at this transformative time for ESG in the private funds sector is exciting," Tamara remarked. She is committed to leveraging her skills and insights to foster relationships with clients and enhance their access to top-tier ESG solutions.

About Petra Funds Group

Petra Funds Group stands out as a leader in fund administration tailored for global private investment managers. With a mission to revolutionize fund administration, Petra combines seasoned industry expertise with innovative technology to meet the diverse needs of its clients.

The firm's services cover a broad spectrum, including fund administration, management company services, regulatory compliance, and specialized ESG advisory services. With offices in key financial hubs such as New York, Los Angeles, Boston, London, and Amsterdam, Petra manages an impressive array of funds and structures, collectively valued at over $220 billion in assets.

By focusing on high-touch and quality-driven solutions, Petra continues to solidify its reputation as a preferred partner for private fund managers seeking comprehensive support and innovative approaches in the evolving investment landscape.

Frequently Asked Questions

What are Outsourced ESG Director Services?

Outsourced ESG Director Services provide private funds with access to experienced ESG professionals who offer sustainability expertise on a fractional basis.

Who is leading the ESG Director Services at Petra?

Tamara Close is leading this new offering, bringing extensive experience from her previous roles at PSP Investments and Close Group Consulting.

Why is ESG expertise important for private funds?

ESG expertise is crucial for private funds to meet the evolving expectations of limited partners and regulators, ensuring compliance and enhancing sustainable practices.

What additional services does Petra offer?

Besides ESG advisory, Petra provides fund administration, management company services, and regulatory compliance to cater to the comprehensive needs of private investment managers.

How does Petra differentiate itself in the market?

Petra differentiates itself by combining industry expertise with technology-driven solutions, delivering high-quality, personalized service to its clients.

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