Opalesque Industry Update:Advent Software, Inc. (NASDAQ: ADVS), a leading provider of software and services for the global investment management industry, today announced that Carrhae Capital LLP has gone live on Advent’s hedge fund solution to support growth and maximize efficiency and transparency.|
Based in London, Carrhae Capital was one of the high profile launches of 2011 and is backed by one of the hedge fund industry’s major seeders. Carrhae Capital began implementing Advent‘s solution in mid-October 2011 to benefit from its robust technology and the depth of its functional capabilities, such as real-time dashboards and reports for accurate P&L, streamlined cash, position and transaction reconciliation, and full synthetic equity asset class coverage. Carrhae Capital launched the Carrhae Capital Master Fund in December 2011.
“We chose Advent for the strength of its technology infrastructure, its reputation in the UK hedge fund market and its integration to all the main counterparties, as the most efficient system to help us accelerate our ability to grow our firm,” said Adrian Headon, COO of Carrhae Capital. “We are confident that Advent will help us scale and continually meet the requirements of the most demanding institutional investors.”
“Being selected by Carrhae Capital further validates Advent’s reputation in the UK hedge fund market as a leading portfolio management solution, and underscores our growing success and traction with local firms,” said Håkan Valberg, senior vice president and general manager, Advent Software EMEA. “The rapid time to market and low cost of ownership reinforce the continued appeal of our solutions for startup hedge funds in the UK.”