Paladyne Systems, a leading solutions provider to the global hedge fund industry, today announced that Cyrus Capital Partners, L.P., a New York-based alternative investment management firm, has successfully implemented Paladyne Credit Master, an integrated bank loan trading and loan administration platform.
Paladyne Credit Master is a comprehensive solution for managing the entire lifecycle of bank debt trading and operations and is available either as a fully hosted, Application Service Provider ("ASP") solution or as a local installation.
"Our decision to implement Paladyne Credit Master was based on the system's ability to support our entire bank debt portfolio and its pre-existing integration with our portfolio accounting system, SunGard VPM(TM)," said David Milich, Partner and Chief Operating Officer at Cyrus Capital. "In addition, we were able to leverage Paladyne's hosted platform, which significantly reduced our implementation timeframe and cost."
Paladyne Credit Master supports the front- and back-office needs of firms trading bank debt including portfolio analysis, trade capture and allocation, settlement and closing, pricing and P&L, compliance and portfolio reporting. Paladyne Credit Master is integrated with Paladyne's suite of product for a complete multi-asset class solution as well as with both SunGard VPM(TM) and Advent's Geneva, including facility and contract details, transactions, daily accruals, pricing, and detailed accounting entries.
"We see increasing demand for trading bank debt and we are excited to bring Cyrus Capital on board as a successful new client," said Sameer Shalaby, CEO of Paladyne Systems. "Our ability to satisfy Cyrus Capital's demanding requirements is a testament of the power and flexibility of Paladyne Credit Master."