RDL REALISATION has named LIM Advisors portfolio manager Nick Paris as a non-executive director, with immediate effect.
The alternative finance-focused investment trust, which is in the process of being wound down and rebranded from Ranger Direct Lending in February, announced the appointment in a stock market announcement on Monday.
LIM Advisors is RDL’s largest shareholder, owning around 25 per cent of the fund’s shares. It had been calling for the fund to be wound down since last year due to poor performance.
Read more: Ranger Direct Lending: What really happened
Paris is based in London and he has more than 30 years’ experience in closed end funds, the announcement said.
“In his career he has developed significant expertise in analysing, launching and investing in such funds and he has acted as an independent non-executive director of a number of stock exchange listed funds,” RDL added.
Paris also holds a non-executive director role at Myanmar Investments International, which is focused on private equity investments in Myanmar. He has previously been a director of ASEANA Properties, Global Resources Investment Trust and TAU Capital, all of which are London-listed closed end funds.
RDL shares were temporarily suspended at the end of last month as the company was late in filing its annual report. It is in the process of being wound down after being hit by poor performance and an ongoing dispute with its Princeton holding, which has subsequently gone bankrupt.