NEW YORK, NY, May 18, 2006 – Paladyne Systems, LLC today announced that it has licensed its PALADYNE™ product suite to Caledonian Fund Services, a global provider of fund administration services. Caledonian will use the front- and middle-office tools within the PALADYNE suite in combination with their existing portfolio accounting system, Advent Geneva® to streamline operations and to significantly expand their technology and client service offering.
Caledonian will implement PALADYNE ASP, a fully-hosted application service provider solution, and will access the platform remotely from each of its global office locations. By leveraging PALADYNE ASP, Caledonian may expand their service offering by providing direct client access to the PALADYNE product suite including order management, real-time PNL and portfolio management, custom reporting, data warehousing and analytics, and client relationship management. PALADYNE ASP solution is a fully hosted, all inclusive offering including software, hardware, database maintenance, and IT and disaster recovery services.
“It was clear to us that the combination of Paladyne’s products and Advent Geneva provides us with a leading technology platform in the fund administration industry,” said Ali Mudeen, Director of Caledonian Fund Services. “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.”
Caledonian began their aggressive focus on fund administration services by acquiring Advent Geneva as their global portfolio accounting platform. As a follow-up, Caledonian expanded its U.S. operations earlier this year by launching Caledonian Fund Services (USA) LLC, a provider of onshore fund administration and tax consulting services to hedge funds and fund of funds.
With its latest acquisition of the PALADYNE product suite, Caledonian has created a world-class front- to back-office technology infrastructure capable of servicing hedge funds of any size or complexity from start-ups to multi-strategy global institutions. The integration of PALADYNE with Advent Geneva will allow Caledonian to streamline operations, improve the timeliness and accuracy of information, and expand the overall scope of services available to their clients.
“We are very excited to partner with an aggressive, technology savvy fund administrator like Caledonian,” said Sameer Shalaby, Chief Executive Officer of Paladyne Systems. “With a fully integrated front- to back-office platform which may be offered directly to their customers, Caledonian is well positioned to become a leading technology-driven fund administrator.”
The PALADYNE suite includes 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™ — provides automated 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.
The PALADYNE suite is available either as a fully hosted ASP solution or as a local installation.
About CALEDONIAN FUND SERVICES
Caledonian Fund Services Ltd. (www.caledonian.com) offers fund accounting, registrar and transfer agency, corporate secretarial, web-based reporting, anti-money laundering compliance and fund of fund custody services to offshore funds from its offices in the Cayman Islands and the Isle of Man. Caledonian Fund Services (USA) LLC provides US onshore fund administration and tax consulting from its Chicago office location, while Caledonian Bank & Trust Limited provides banking facilities from its head office in the Cayman Islands. The Caledonian Group has a staff of over 135 and is headquartered in the Cayman Islands. With over 35 years of experience in the financial industry and with offices in the Cayman Islands, Isle of Man, Chicago, New York and BVI, the Caledonian Group’s expansive jurisdictional reach enables efficient handling of European, Asian and North American clients.
