24 August 2017
visit www.avoka.com

GlobeOp signs Sothic Capital Management

28 October 2009  |  7847 views  |  0 Source: GlobeOp Financial Services

London-based investment manager Sothic Capital Management LLP (Sothic), has selected GlobeOp Financial Services to provide middle- and back-office and fund administration services for its newly launched Sothic Capital European Opportunities Fund.

The fund launched in September 2009 with $83 million in assets under management (AuM), which have since grown to more than $105 million. GlobeOp will provide full post-trade support, including the processing of bank debt trades.

Domiciled in the Cayman Islands, the Sothic Capital European Opportunities Fund, focuses on European distressed situations and is open to new investors. Sothic Capital Management was established late in 2008 by the investment management team formerly responsible for the distressed investment strategy at JP Morgan's Proprietary Positioning Business.

"High levels of leveraged buyout and loan activity by private equity firms in the past few years left a significant number of European companies vulnerable to the financial crisis," said GJ Koomen, CIO of Sothic Capital Management. "This creates a source of opportunity on an unprecedented scale for distressed situations specialists with the relevant experience in the widely diverse European distressed markets."

Didier Martineau, Sothic CEO added, "In launching our European Opportunities Fund, we wanted to demonstrate best practice processes and operational risk management from the front-office to the back. GlobeOp is an integral part of that effort with its processing capabilities for the complex debt instruments we trade and the scalability to support our anticipated growth."

GlobeOp is providing Sothic with daily trade data acquisition and processing, independent valuation and reconciliation, and investor communications.

"We are pleased to have been selected by Sothic to support the launch of its European Opportunities Fund from inception," said Vernon Barback, president and COO of GlobeOp. "Our continuous technology investment means we can offer clients scale and instrument coverage that most funds could not achieve on their own. Our bank debt trade processing expertise enables us to support Sothic with streamlined and fully integrated straight-through processing (STP) through the post-trade lifecycle, enabling its investment managers to focus on research, execution and alpha generation."

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.vasco.comvisit www.worldpaymentsreport.comvisit www.dorsum.eu

Top topics

Most viewed Most shared
Rabobank constructs physical model to understand IT architectureRabobank constructs physical model to unde...
23849 views comments | 48 tweets | 93 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
12311 views comments | 23 tweets | 36 linkedin
Australia regulates digital currenciesAustralia regulates digital currencies
11813 views comments | 21 tweets | 35 linkedin
hands typing furiouslyWhy Is Risk Analytics Important?
11040 views 0 | 7 tweets | 1 linkedin
Barclays uses sensors to check when bankers are at their desksBarclays uses sensors to check when banker...
9808 views comments | 7 tweets | 12 linkedin

Featured job

New York, NY - USA (some flexibility on location)

Find your next job