Global Credit Platform

Location

USA

Industry

Client

The client is a leading private equity and alternative investment management firm with about $200 bln AUM, working across a variety of industry sectors, including credit, private equity and investor communications.

As a technological partner, DataArt maintains a development team of more than 50 people on the client’s side, providing services for all lines of the client’s business. Working with the credit department, DataArt was tasked with developing a Data Management platform that would replace the existing product solutions.

Challenge

For Global Credit, DataArt was tasked with developing a Data Management platform that would replace the existing product solutions. One of the main challenges is that the client is a very large organization with different investment funds under management along with various fund administrators who handle the low-level aspects of asset management and accounting settlement.

As there are many investment funds managed by the client, it’s important to provide flexible services and support a large number of funds, each with its own investment strategy and needs.

Investment funds owned by the client are handled by separate fund administrators and that presents another challenge as the client wanted to reduce or even eliminate its reliance on fund administrators and change them fast if needed.

Solution

For any IM company to work, it’s important to have a steady and reliable data platform that would perform all the calculations and track investment records. Initially, the client decided to use a ready made solution. Two products were chosen to cover investment data management, deal tracking and middle and back office operations along with accounting: BlackMountain Everest and IVP Polaris. However, it was soon discovered that both products were too expensive, technically flawed and were unable to provide the level of customer service the client had hoped for. Besides, connecting and integrating both platforms proved to be an arduous task not least because of technical issues.

At a certain point, the client realized that a product strategy in their environment wasn't working, and they wanted to do everything themselves instead. They hired DataArt to accomplish the following goals:

To replace IVP Polaris with the custom platform for middle and back office, with the ability to share data with third-party fund administrators.
To replace BlackMountain Everest and build a front office platform that would allow to get the right investment analytics and that would be integrated with different fund administrators the client works with.

Business Benefits

The client gained a substantial degree of independence from fund administrators and is now able to choose fund administrators on most favorable terms, which in turn significantly reduces back office costs.
The client got a more transparent and centralized platform, which enables to get a bird’s eye view of the current investment trends and the current state of its funds.
The platform is more flexible in terms of investment analytics. Because the platform is designed specifically for the client’s unique organization model, its funds can get the analytics whenever they need it and presented the way they need it. This allows funds to focus on asset management rather than on analytics and data visualization.
Custom development services offered by DataArt turned out to be more cost effective for the client than customizing off-the-shelf products to their needs, and definitely cheaper than having an in-house team.

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