Investran Press Release
Prime Fund Solutions Selects SunGard’s Investran for its Private Equity Servicing Business
September 30, 2010 — Hong Kong
Prime Fund Solutions (PFS), formerly the alternative fund servicing division of Fortis Bank which has announced plans to change parentage to Credit Suisse, has selected SunGard’s Investran to manage third-party administration services for its private equity and real estate clients. Investran is an integrated solution that supports the investment lifecycle, from fundraising through reporting and portfolio monitoring, by automating front-, middle- and back-office processes for private equity and alternative investment firms. PFS will work with Investran’s local support team in Asia Pacific for the initial rollout in PFS’ Hong Kong office. PFS will expand its use of Investran over the coming months to its other offices around the globe.
PFS’ accounting, investor servicing and client services teams will use Investran to process high-volume accounting, reporting and investor relations for private equity and real estate funds. Investran will replace PFS’ existing systems to provide integrated functionality and streamlined workflows to improve efficiencies in fund administration processes, and help reduce operational risk though enhanced transparency and availability of data.
“When we commenced our search for a solution to help us further develop our global private equity administration business, of paramount importance was choosing a system that was scalable enough to meet our significant rate of growth, was able to keep pace with the existing and future demands of our sophisticated and industry leading client base, and had abundant local support to help us guarantee a robust and cutting edge service,” said Gordon Shaw, global head of administration, banking and custody, Prime Fund Solutions.
Due to the considerable demand for private equity services arising from the developing economies of Asia, the PFS development project was spearheaded within PFS’ Asia regional operations. “The Investran team, both globally and locally in Asia Pacific, has shown tremendous commitment to our business. We believe the combination of the PFS expertise with the Investran solution will provide us with a highly reliable system, with the data integrity and transparency to offer our customers a variety of value added services. This competitive advantage will allow us to capitalize on the growth we are witnessing in Asia, and also within our other global locations,” said Dan Synk, head of operations, Prime Fund Solutions – Asia.
Lauren Iaslovits, chief operating officer of SunGard’s Investran business, said, “PFS joins a number of fund administrators globally looking to SunGard’s Investran to help manage their fund administration infrastructure. With the growth in alternatives and complexity in managing various investment structures, fund administrators need solutions that are flexible enough to both support their current investments and facilitate growth into other strategies. Investran, as a customizable solution, has flexibility coupled with broad investment coverage to scale regardless of what investment strategies our customers wish to explore.”
About Prime Fund Solutions
Since 1969, PFS has pioneered the provision of fund services to the alternative asset management industry. PFS has a global presence operating from eight key locations including Ireland, Luxembourg, Isle of Man, Amsterdam, Cayman Islands, New York, Hong Kong and Singapore. In addition, it has representative offices in Geneva, London and Tokyo. PFS is amongst the largest and most trusted counterparts in the areas in which it specializes, including; Administration, Banking, Custody, and Financing. PFS currently services clients ranging from boutique asset managers to large scale global institutions such as pension and sovereign wealth funds. All of its clients benefit from the same global infrastructure, experienced staff and client focus that characterizes its offering. Four decades of experience has helped shape a unique, client-oriented operating model that enables PFS to provide solutions across the entire alternative asset management value chain, allowing clients to focus fully on the investment process. Credit Suisse entered into an agreement to acquire the PFS business in May 2010. PFS was formerly part of Fortis Bank.
About SunGard Investran
SunGard Investran is an integrated application suite that automates front-, middle- and back-office processes for private equity and alternative investment firms. Investran helps improve business efficiencies to facilitate collaboration, support deal flow and automate accounting. Firms rely on Investran’s integrated capabilities to help meet their needs in the entire investment life-cycle, including relationship management, reporting, monitoring, accounting, fund raising and deal pipeline management. For more information on Investran and SunGard’s portfolio of alternative investment solutions, visit www.sungard.com/investran/learnmore.
About SunGard
SunGard is one of the world's leading software and technology services companies. SunGard has more than 20,000 employees and serves 25,000 customers in 70 countries. SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software. With annual revenue exceeding $5 billion, SunGard is ranked 380 on the Fortune 500 and is the largest privately held business software and IT services company. www.sungard.com.
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