Caledonian Enlists Paladyne Systems

NEW YORK—Hedge fund administrator Caledonian Fund Services licensed Paladyne Systems LLC's front- and middle-office product suite, which the firm will use in conjunction with its existing portfolio accounting system, Advent Geneva.

The implementation of the Paladyne solution will allow Caledonian to provide direct client access to order management, real-time PNL and portfolio management, custom reporting, data warehousing and analytics, and client relationship management. The solution is fully hosted and includes software, hardware, database maintenance and IT and disaster recovery services, according to a news release.

"The tight integration of Paladyne and Geneva allows us to scale our business significantly with our existing staff levels while improving the overall timeliness and scope of our services offering," said Ali Mudeen, director of Caledonian Fund Services, in a statement.

In April, Caledonian announced a joint venture with Chicago-based Gabriele Group, an accounting firm, to form Caledonian Fund Services, which provides onshore fund administration and tax consulting to U.S. hedge funds and funds of funds Previous HedgeWorld Story. Earlier this spring, the firm opened a new office in the Isle of Man Previous HedgeWorld Story.

Also in April, Paladyne's middle-office solution was implemented by New York-based GoldenTree Asset Management Previous HedgeWorld Story.

Administrator Connects Long/Short Fund with Paladyne Systems

MOUNT KISCO, N.Y.—Aeneas Capital Management has added Viteos Fund Services to its service provider line-up.

Viteos was chosen to provide outsourced middle/back office services to the hedge fund firm. Real-time profit and loss statements, reconciliation, accounting and shareholder services are part of the offering that relies on Paladyne Systems' technology.

As the hedge fund's administrator, Viteos will act as an extension of the long/short equity hedge fund's operations and back office, said Aeneas Founder Thomas Grossman. The $400 million hedge fund firm specializes in long/short emerging markets strategies, so the multi-market, multi-currency coverage supports the firm "in a meaningful way," Mr. Grossman said in a statement.

Aeneas' traders will have web access to Paladyne's Portfolio Master software, which handles trade order management and aggregation, reporting and analytics. Viteos began offering its end-to-end hedge fund administration platform in February Previous HedgeWorld Story.

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