Fixed income asset administrative and middle-office services and data provider Virtus Partners is teaming up with VPM, SunGard’s asset management business, to offer an integrated bank debt service.
Scott Alintoff, chief operating officer of VPM, says: “An end-to-end loan administration, accounting and reporting solution for bank debt management is key to overcoming the bank debt complexity hurdle.”
The new offering is designed to increase operational efficiency by reducing manual input and streamline operationally onerous bank loan processing.
Virtus’s global load data feed will fully integrate with VPM.
Edward Metz, chief strategy officer, Virtus Partners, says: “At Virtus, we see this as the convergence of complementary solutions in the hedge fund space to better manage bank debt. There is a similar ambition and focus on long-term scalability in SunGard and we were impressed with the technical sophistication of the VPM solution, as well as the collaborative approach and leadership strength of the team.”
