SOURCE: Paladyne

Paladyne

July 13, 2010 08:04 ET

Virgo Investment Group Implements Paladyne Credit Master™ as Its Loan Trading and Administration Platform

NEW YORK, NY and LONDON and HONG KONG--(Marketwire - July 13, 2010) -  Paladyne Systems, Inc., a leading provider of technology and services to the global hedge fund industry, today announced that Virgo Investment Group, L.P., a Palo Alto-based alternative investment management firm, with offices in New York and Melbourne, Australia, has successfully implemented Paladyne Credit Master™ to support the trading and administration of its bank loan portfolio.

Paladyne Credit Master™ is a comprehensive solution for managing the entire lifecycle of bank debt trading and operations, featuring portfolio analysis and trading tools, user-defined allocation rules, client-specific settlement and closing workflow designer, rules-based compliance, document management, pricing, and comprehensive portfolio reporting and accounting. Paladyne Credit Master™ is integrated with the Paladyne suite of products for a complete multi-asset class solution, as well as with both Advent's Geneva® and SunGard's VPM™. The solution is available either as a fully hosted, Application Service Provider ("ASP") solution using Paladyne ASP™ or as a local installation.

"Paladyne Credit Master™ was the only solution that we found that could support the entire workflow of our specialty lending and bank debt portfolio," said Jesse Watson, Managing Partner at Virgo Investment Group.

"We were able to implement Paladyne's hosted platform, Paladyne ASP™, in a matter of weeks which significantly reduced our total cost of ownership," said Bob Racusin, Virgo's Head of Operations. "Virgo's investment operations platform is focused on redundancy, procedural checks and balances, and scalability, and Paladyne Credit Master™ helps us to achieve these goals particularly for the middle-market specialty lending activities of our business."

"Paladyne Credit Master's breadth of functionality combined with its ASP deployment is proving to be an attractive alternative to many firms in the bank loan trading marketplace," said Sameer Shalaby, CEO of Paladyne Systems. "Additionally with loan data becoming more commoditized, funds are now focusing on technology rather than data, as a means to enhance their operational processes around loan trading and administration."

About Paladyne Systems, Inc.

Paladyne Systems, Inc. (www.paladyne.com), a leading provider of technology and services to the global hedge fund industry, develops and distributes products designed to streamline hedge fund operations while providing business efficiency and cost savings throughout the organization. Paladyne offers a fully-hosted technology platform known as the PALADYNE® suite which is capable of supporting the front- to back-office requirements of today's most comprehensive hedge funds. The PALADYNE® suite is an integrated set of applications including: trading and order management, portfolio management, portfolio accounting, global security master, data warehousing and custom reporting, pricing and valuation, and automated reconciliation. Paladyne was formed through an acquisition of its technology platform from a large US-based multi-strategy hedge fund.

The PALADYNE suite includes the following modules:

  • Paladyne Portfolio Master™ -- provides electronic trading, order management, compliance, allocation, portfolio management, real-time P&L, and strategy-based performance tracking.
  • Paladyne Credit Master™ -- provides loan processing and administration to fully support loan trading, analysis, reporting, and management.
  • Paladyne Analytics Master™ -- provides portfolio analytics, data aggregation, and custom reporting tools.
  • Paladyne Security Master™ -- provides a centralized terms and conditions repository and distribution engine with real-time updates and corporate action alerts.
  • Paladyne Price Master™ -- provides automated collection, storage, and time series analysis of prices and market data from any third-party sources.

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