Viteos Offers Complete Fund Administration and Hedge Fund Operations Support
NEW YORK, NY, March 2, 2006– Paladyne Systems, a leading provider of alternative investment solutions, and Viteos Capital Market Services, a global fund administrator and hedge fund operations service provider, today announced a partnership to provide technology and comprehensive services to the alternative investment industry. Viteos has licensed the PALADYNE™ suite, a fully integrated front- to back-office technology platform, to provide fund administration and outsourced middle- and back-office hedge fund services. Viteos will also offer the PALADYNE suite to their customers by providing direct client access to selected applications such as order management, real-time PNL, and analytics.
The PALADYNE suite is a fully hosted, integrated set of applications designed to service today’s most comprehensive hedge funds. Viteos will use the PALADYNE suite to provide superior service to hedge funds of all size and complexity at a lower cost than the current leading fund administrators. By sharing the technology platform with their clients, Viteos will streamline operations and reduce cost and business risk both internally and for their customers, making them more attractive to potential investors.
“Having reviewed various technology solution providers in this marketplace, Viteos chose to partner with Paladyne given the unique ability of their product suite to address the front- and back-office needs of global, multi-strategy hedge funds. The combination of Paladyne’s technology and our domain expertise combined with highly qualified accountants gives Viteos a significant competitive advantage in scope of services, technology, and cost relative to other hedge fund service providers,” said Shankar Iyer, CEO of Viteos Capital Market Services.
“As the fund administration industry continues to consolidate and becomes more competitive, administrators need to focus on streamlining operations and scaling their business with technology,” said Sameer Shalaby, CEO of Paladyne Systems. “Viteos clearly is ahead of the curve in understanding this trend, and we are excited to deliver our highly scalable and robust solution to Viteos and their customers.”
The PALADYNE suite is an integrated set of applications and is comprised of the following modules:
- Paladyne Portfolio Master™ — provides order management and allocation, portfolio management, real-time P&L, and strategy-based performance tracking.
- 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™ — automates collection, storage, and analysis of prices and market data from any third-party sources.
- Paladyne Client Master™ — provides complete client relationship management including website integration and reporting.
- Advent’s Geneva® — provides complete portfolio accounting solution including general ledger reporting, performance measurement, and portfolio reporting.
Viteos and Paladyne are currently implementing clients on the PALADYNE suite.
About Viteos
Viteos (www.Viteos.com) is a hedge fund administrator with offices in the U.S., India and the Cayman Islands. Viteos provides a full range of services – middle office, accounting and administration. Professionals at Viteos have a deep understanding of marketplace, technology and client needs delivered with flexibility and accuracy and in line with clients’ expectations. Viteos believes its ability to provide customized solutions to the marketplace helps in bringing higher process efficiency and productivity to its clients. Viteos creates value for its customers through process expertise – leveraging robust technology and a global service delivery model.
