Denham places in-house staff at its fund administrator

Petra Funds Group took on the firm’s compliance, back- and middle-office teams while retaining it as a client.

Service provider Petra Funds Group announced that it has added a team of staffers from Denham Capital while also adding the private equity firm as a client. The support staffers have compliance, back-office and middle-office experience, Petra said.

The team members joined Petra this month and more than a dozen were involved, a spokesperson for the company told Private Funds CFO.

The service provider also announced it has opened a new Boston office, which it said “supports Petra’s overall growth strategy through the expansion of the firm’s geographic footprint in key industry centers across the globe.” Denham is based in Boston.

The Boston location’s opening comes after Petra said last month that it hired Charlie Chipchase to lead a new office in London. The spokesperson told Private Funds CFO that Petra intends to add locations in more cities in the US and Europe.