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Advent adds record number of Geneva clients in Q2

A record 15 new customers selected Advent Software's Geneva - an accounting platform for complex investment strategies and instruments, used by institutional asset managers, hedge funds, fund administrators and prime brokers - in the second quarter of 2007.

The new clients include a wide range of investment management firms in the US and EMEA region.

'The customers include several hedge funds, one of which is a top 100 hedge fund worldwide, a fund administrator, and two asset managers.  Five of the clients also purchased Advent's investor management and accounting solution, Advent Partner, which is fully integrated with Geneva,' says Stephanie DiMarco, Chief Executive Officer and founder of Advent. 'We are seeing an increasing number of businesses strategically investing in technology to maximize investment opportunities, increase productivity and enable business growth. 'With an additional 15 customers choosing Geneva in the second quarter, and the launch of Geneva 7.0 this fall, Geneva continues to extend its leadership and be the system of choice in this market.'

Commenting on his company's decision to adopt Geneva, Paul Stapleton, Controller, Kayne Anderson Capital Advisors, LP, says: 'As a leading system for the alternative investment space, Geneva® offers broad instrument coverage and meets our requirements for increasing our operational efficiency. We believe Geneva is the ideal fit for Kayne Anderson because of its flexible and robust platform.  We are pleased to have a proven solution that is trusted and recommended by investment managers globally.'

And with Geneva 7.0 due later in the year, DiMarco believes the future is bright for Advent and the firm's Geneva client base. 'The excellent momentum we are experiencing with Geneva® is a reflection of the product's leading functionality, scalability and reliability; and Geneva 7.0 will offer a completely redesigned user experience and new reporting platform for easier, faster access to critical information for both the front and back offices,' she says. 'Many of the largest financial institutions in the world rely on Geneva® to run mission-critical areas of their business. With more than 100 clients worldwide, Geneva customers include seven of the top ten global prime brokers, eight of the top ten fund administrators, 15 of the largest hedge funds, and many of the world's largest and most prestigious financial institutions.'

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