Petra’s Boston office adds team with significant industry experience
NEW YORK AND BOSTON; August 16, 2022: Petra Funds Group (“Petra”), a leading independent provider of fund administration solutions, announced today the establishment of a substantial new office in Boston, Massachusetts. The Boston office supports Petra’s overall growth strategy through the expansion of the firm’s geographic footprint in key industry centers across the globe.
Petra was founded by Stephen Coats and Peter Haskopoulos, former Riverstone executives who saw a need for a coordinated fund administration solution for private equity, venture capital, and private debt funds—a true partner to asset managers. The company provides tailored fund accounting, reporting, management company, regulatory compliance, and ESG services, among others, to its growing US and European client base, offering a comprehensive solution that supports fund growth.
“As the industry continues to proliferate and increased pressure is placed on fund management teams, we have seen greater interest in a holistic outsourced middle and back-office solution,” commented Peter Haskopoulos, Managing Partner. “We remain in strong growth mode as we continue to expand our global footprint, providing investment managers a comprehensive fund administration, accounting, and regulatory solution that has been missing in the marketplace.”
The Boston office brings on board an experienced team of middle, back-office, and regulatory professionals from Denham Capital, a Boston-based private equity firm with over $12 billion of invested and committed capital since inception. Consistent with Petra’s approach of seeking on-the-field training, each team member joining Petra’s Boston office brings years and, in some cases, decades of experience working inside private equity funds.
“We are thrilled to welcome the new team to Petra, and Denham Capital as a new client,” commented Stephen Coats, Managing Partner. “We have followed Denham for years and have always had a genuine respect for the firm and its team. Additionally, Petra gains the expertise of a seasoned team well-versed in all aspects of fund accounting, operations, and investor servicing, experience we are excited to leverage to service Denham and other private equity firms.”
The opening of the Boston office follows Petra’s recent announcement regarding the establishment of a London office and senior hire, Charlie Chipchase, private equity and ESG executive.
