LS Power, a New York-based investment firm focused on the development, acquisition and management of power generation and transmission infrastructure, has selected SunGard's Investran to help address its accounting needs for private equity administration.
LS Power will use Investran for customer relationship management and investment and partnership accounting. Investran supports the entire investment lifecycle, from fundraising to reporting and portfolio monitoring, by automating front-, middle- and back-office processes for private equity and alternative investment firms.
With more than $11 billion dollars in debt and equity raised since 2005, LS Power has executed some of the power sector's most successful transactions. LS Power needed a solution that would help it to efficiently analyze, track and disseminate an increasing flow of transactional data. Investran will help LS Power to monitor current investments more efficiently, manage investor allocations and automate the accounting workflow. Investran will also provide LS Power with streamlined and automated reporting, auto-generated capital calls and distribution notices, and performance reports including dynamic investment rate of return. Finally, it will give LS Power the ability to evaluate and track relevant qualitative data for active portfolios.
Mark Brennan, senior vice president and treasurer of LS Power, said, "With our business facing an influx of information, we needed SunGard's Investran to help us more efficiently meet our accounting and reporting needs. Investran is also a reliable tool for managing investor inquiries and centralizing due diligence, which will help us to reduce operational risk."
Emanuel Mond, president of SunGard's alternative investments business, commented: "SunGard's approach to the private equity business is such that we combine the strength of a flexible, functionally-rich solution with both industry expertise and a consultative approach to helping our customers meet their private equity administration needs. Investran is an award-winning solution that continues to provide reliable innovative solutions to help our customers grow their businesses."