LaCrosse Global Fund Services has implemented Advent Software’s Geneva investment management and accounting system as a central component of its technology infrastructure for its fund admi
LaCrosse Global Fund Services has implemented Advent Software’s Geneva investment management and accounting system as a central component of its technology infrastructure for its fund administration clients in North America, Europe and Asia.
LaCrosse has 10 global offices providing operations, middle-office and administration services to the alternative investment industry. Its clients employ a broad range of investment strategies, including equities, fixed income, foreign exchange, credit instruments, distressed debt, commodities, emerging markets and related derivatives.
‘We needed a core investment management and accounting platform that could support our growing business,’ says LaCrosse co-chief executive Stuart Feffer. ‘We chose Geneva because it handles complex securities and fund structures very well, with full financial accounting. It also is a system that has proven to be highly scalable for large trade volumes.’
Established in 1983, Advent Software serves firms in 60 countries that manage investments totalling nearly USD14trn. Geneva is the leading global investment management and accounting platform for the alternative investment industry, used by eight of the world’s top 10 fund administrators in the world.
‘It was important to us that Geneva was easy to install and integrate within our technology infrastructure,’ says Lacrosse co-chief executive Christopher Kundro. ‘The depth and experience of the Advent team allowed us to get up and running quickly so we could offer the highest level of service to our clients.’
Chris Momsen, an Advent vice-president and co-head of global accounts, adds: ‘Geneva is an excellent fit for companies like LaCrosse that want to grow their business without increasing staff. Our implementation consulting team was successful in meeting the timetable for going live on the new LaCrosse system.’
LaCrosse Global Fund Services, which has more than 200 employees in Bogotá, Buenos Aires, Caracas, Istanbul, London, Minneapolis, Moscow, New York, São Paulo and Singapore, currently has are more than USD12bn in assets under administration. Its post-trade services include facilitation of prime broker communications, trade confirmation and confirm review, settlement of non-prime broker transactions, reconciliations, cash and collateral management, distressed debt operations, derivatives operations, valuation and P&L/NAV estimation as well as fund administration.
