Monarch Alternative Capital LP ("Monarch"), a New York based investment firm that manages distressed debt hedge funds with assets under management of approximately $3 billion, has selected SunGard's Visual Portfolio Manager (VPM) as its alternative investment portfolio accounting solution.
Monarch chose VPM primarily for its broad capabilities in handling sophisticated investment products such as bank debt, credit default swaps and various other fixed income securities. The Monarch funds invest primarily in the debt of bankrupt or otherwise financially troubled companies. Monarch's portfolio managers have a 16-year track record of investing together in distressed debt and are supported by an experienced investment team.
Julie Rice, managing director for SunGard's alternative investments business in the Americas, said: "Monarch joins a growing number of hedge funds and third parties that are looking to SunGard to provide a technology platform that helps them streamline their operations, reduce their operating risks and scale their business as their assets under management increase."
SunGard provides specialized solutions designed specifically to address the primary business requirements of the alternative investment space. They range from front-office analysis, trading and portfolio management, and specialist support for private equity transactions; through independent valuation, risk management and daily P&L; to accounting, records and investor reporting. Many SunGard alternative investments solutions are available both as locally installed applications and as outsourced services, e.g. on an Application Service Provider (ASP) basis.