Petra Funds Group
Fund administration provider
Year of Investment
2023
Sector(s)
Business & Consumer Services
Status
Current
Website
petrafundsgroup.com(Link opens in new window)Headquarters
New York, NY
Team
Petra Funds Group is a leading fund administrator for private investment firms, providing comprehensive fund administration and related middle and back-office services to private equity and private debt managers totaling over $220 billion of AUA. Founded by executives with decades of experience in the private funds industry, the firm offers end-to-end technology-enabled fund administration, investor servicing, compliance, fund launch advisory, management company and ESG services. Petra delivers a differentiated, client-centric value proposition with white-glove service that has enabled the firm to gain market share and achieve consistent client satisfaction. The firm has 180+ employees across five offices in the US and Europe.
Investment Summary
Charlesbank closed its investment in Petra in November 2023, representing the firm’s first institutional capital. The transaction was the result of a multi-year thematic search for a fund administration platform in the attractive private markets ecosystem. The investment will enable Petra to continue to execute on its growth strategy, recruit and retain top industry talent and scale its suite of services across the entire fund services value chain. The Petra founders and management team remain significant shareholders alongside Charlesbank.