NEW YORK, June 9, 2021 /PRNewswire/ — Arcesium, a global financial technology and professional services firm, today announced the official launch of PerformASM, a performance allocations product designed to simplify the investor accounting process and reduce the risks, costs, and manual errors associated with typical spreadsheet-based fund accounting. PerformA is tailored for different client types, including hedge funds, fund administrators, and private equity firms.
“Having developed and refined our performance allocations technology closely with a small group of strategic clients over a number of years, we are excited to bring PerformA to the broader market – not only our core hedge fund and fund administration customers, but also private equity funds, where we see significant need for such a solution,” said Gaurav Suri, CEO of Arcesium.
“For years, the financial services industry has relied principally on Excel for its investor accounting processes, despite investing heavily in advancing its technology to support other areas of the business. This has changed over the last year as the industry has demonstrated growing demand for technology solutions across the spectrum of post-investment processes,” said David Nable, Arcesium’s Head of Client & Partner Development. “Given the range of firms interested in an automated solution for performance allocations, PerformA is a natural extension of our strategy.”
To learn more about PerformA, please contact your Arcesium account representative or request a demo at www.arcesium.com/performA.html.
About Arcesium LLC
Arcesium is a global financial technology and professional services firm, delivering solutions to some of the world’s most sophisticated financial institutions, including hedge funds, banks, institutional asset managers, and private equity firms. Expertly designed to achieve a single source of truth throughout a client’s ecosystem, Arcesium’s cloud-native technology is built to systematize the most complex tasks.
Building on a platform developed and tested by investment and technology development firm, the D. E. Shaw group, Arcesium launched as an independent company in 2015. Arcesium received additional equity backing from a second seed client, Blackstone Alternative Asset Management, the world’s largest discretionary allocator to hedge funds. In January 2020, J.P. Morgan made a strategic investment in the company.
Arcesium supports more than $455 billion in assets with a staff of over 1,250 software engineering, accounting, operations, and treasury professionals.
Todd Fogarty, Kekst CNC