Source: Charles River Development
Charles River Development (Charles River), an award-winning provider of financial software and services to the global investment management community, today announced that New Amsterdam Capital (NAC), a London-based investment firm with more than EUR3 billion (US$4 billion) invested in the European loan market, has successfully implemented the Charles River Investment Management System (Charles River IMS) for the portfolio management, trading and compliance monitoring of its leveraged loan operations.
Charles River IMS supports all of NAC's trading and booking of leveraged loan investments for both the primary and secondary markets.
"NAC was one of the first European managers to tap into the leveraged loan market, and we required a single, integrated trading and compliance platform," said Pramal Patel, Chief Operations Officer at NAC. "Our research showed that Charles River IMS was one of the most appropriate systems available to support our activities and future growth. Charles River delivered a sophisticated, enterprise-wide and flexible system that we expect to continue to meet our needs as we expand our business."
Charles River's implementation experts and NAC's in-house project team worked closely to address the unique workflow requirements of leveraged loans, such as extended settlement dates. Charles River IMS significantly reduced NAC's trading and compliance risks by automating manual processes and providing a centralized tracking system that offers numerous authorization "sign off" check-points throughout the life of a trade.
"The leveraged loan market has grown exponentially over the past few years," said Tom Driscoll, Vice President, Sales and Marketing, Charles River Development. "Charles River recognized this trend, and we're pleased to extend Charles River IMS support to yet another growing asset class."