LaCrosse Global Fund Services, a leading provider of operations, middle-office and administration services to managers of sophisticated hedge funds, has extended its relationship with SunGard by implementing SunGard's InvesTier investor accounting and reporting solution.
LaCrosse uses InvesTier in its global investor services teams to deliver partnership and shareholder accounting and reporting services to the firm's fund administration clients in the United States, Europe, Asia and Latin America.
LaCrosse needed a flexible and scalable investor accounting and reporting solution for its growing fund administration business and recognized that InvesTier could help with a broad range of client requirements, fee structures, allocation rules and fee calculations. Integrating InvesTier with LaCrosse's existing portfolio accounting system and investor relations management systems will also help the firm gain operational efficiencies. Using InvesTier, LaCrosse is able to maintain consistent, documented processes and procedures for delivering investor accounting, timely and accurate reporting, and information to its fund clients, both on-demand and at month-end.
Christopher Kundro, co-chief executive officer of LaCrosse Global Fund Services, said, "SunGard's InvesTier helps support our aggressive growth by allowing us to take on new fund administration clients, including U.S. partnerships and offshore, unitized investment corporations. The system provides ease of use and rapid deployment at two locations in just three weeks, with the ability to expand its use to other locations globally as our fund administration business continues to expand."
Emanuel Mond, president of SunGard's alternative investments business, said, "Global fund service providers such as LaCrosse require global solutions that deliver comprehensive fund and investor accounting on a single platform in order to remain competitive. SunGard's InvesTier provides transparency and insight into a fund's operations, supports complex fund structures, and offers the flexibility to meet the disparate needs of new fund clients on a global basis."