BP Capital Fund Advisors (BP Capital TwinLine) has selected Ultimus Fund Solutions’s Advisor Solutions Group to provide a full suite of middle-office services for the firm’s institutional BP Capital TwinLine Separately Managed Accounts.
By leveraging Ultimus’ depth of operational knowledge and industry-leading technology, the BP Capital TwinLine team will be able to focus on its core business functions while diversifying its product offering. BP Capital TwinLine is the latest firm to join the growing middle office outsourcing trend, as advisors look to gain efficiencies and access expertise without tying up critical internal resources or licensing and operating expensive technologies.
Under the terms of the agreement, Ultimus will provide BP Capital TwinLine with a comprehensive suite of middle-office services including trade processing, a daily investment book of record, investor reporting and billing and performance calculation services. Ultimus was chosen among some of the most recognisable providers in the industry, reinforcing its position as an emerging leader in the space.
“As regulatory and reporting requirements become increasingly complex, more firms are looking to outside experts to help them achieve institutional-quality middle office functions without the need to leverage internal resources," says Gary Tenkman (pictured), Managing Director at Ultimus. “BP Capital has a long and storied history in the energy space and using our team's operational strength and expertise allows them to focus on their clients and their investment strategies as they move into the institutional separate account arena. We're excited to partner with them on this new chapter in their business and we look forward to supporting their growth for years to come."
“As we went through the selection process Ultimus continually separated itself, demonstrating its expertise and reinforcing our belief that Ultimus would be the best partner to help us grow our separate account business," says Patrick Hurley, Chief Operating Officer at BP Capital TwinLine. “Their institutional strength and the quality of their team gave us comfort and confidence in partnering with them as our business continues to grow.”
