The US$23 billion hedge fund administration firm is now implementing the Paladyne platform.. Offered as a fully web-hosted system with front, middle and back office software, Paladyne is replacing some of Dundee's proprietary technology, which was used in conjunction with Advent's Axys software.

Now Dundee has access to Advent's Geneva portfolio accounting software in addition to Paladyne's own modules, which handle activities ranging from trade order management to client relationship oversight. Paladyne acquired its software from a large hedge fund firm earlier this year Previous HedgeWorld Story.

For Dundee Leeds, access to Geneva was a selling point. "Geneva has become the gold standard in the industry to administrators and for some of the hedge funds themselves," said Christine Egan, senior vice president and head of business development at Dundee Leeds.

The fund administrator was seeking to expand its hedge fund business, and technology was a key component, according to Ms. Egan. She said that although the firm is in the middle of the pack in terms of assets under administration, the new software will be a huge leap for the service provider's business.

Two of Dundee Leeds' clients are now converting to the Paladyne suite. The firm works with 130 funds, which range from small, emerging hedge funds to large, well-established long/short equity managers, Ms. Egan said.

SBarreto@HedgeWorld.com