The alternative asset management firm will use Options’ PIPE® Core and Momentum services
NEW YORK, March 25, 2013 /PRNewswire/ — Options, the market leader in infrastructure as a service (IaaS) products for the global capital markets industry, today announced that the Citigroup spinout, Napier Park Global Capital (“Napier Park”), has chosen the firm’s PIPE® Core and Momentum services as its fund’s technology infrastructure.
Napier Park is an independent asset management firm with approximately $6.8 billion under management and more than 110 employees in offices in New York and London. The firm manages a diversified product mix, including hedge funds, bespoke client solutions, CLOs and private investing for institutional investors globally.
Napier Park will utilize Options’ PIPE® Core and Momentum services, key components of the Options’ Private Financial Cloud platform. PIPE Core is a complete business technology infrastructure service providing a robust and resilient technology foundation for day-to-day business communication, regulatory compliance and operations management. PIPE Momentum is a fully managed and optimized financial application hosting service for proprietary and vendor applications spanning the front-, middle- and back-office.
“Evolving market conditions have significantly raised the level of operational sophistication that fund managers must demonstrate to both investors and regulators,” said Michael Williams, COO at Napier Park Global Capital. “We met with a number of technology firms to outsource this work, and we found that Options was the only one that has the capability to quickly implement a cost-effective, robust and secure technology infrastructure that meets our requirements.”
“We’re delighted that Napier Park has selected Options to deliver the fund’s technology infrastructure,” said Options CEO Nigel Kneafsey. “PIPE Core and Momentum provide a resilient and fully managed solution that offers our clients better performance, increased flexibility, removes the ongoing cost of platform optimization from their balance sheets, and enables them to focus on their core competencies.”
Callum Runcie, Head of Buy Side Sales for Options, added: “Adoption of the Options Private Financial Cloud has been increasing greatly over the last few years in both the hedge fund and banking communities. The changing regulatory and market conditions have brought increased scrutiny on internal costs and greater due diligence requirements to the market. Adopters of the private financial cloud are growing, and we are experiencing increased interest from firms that were traditionally managed internally and are now looking to migrate to our platform.”
About Napier Park Global Capital:
Napier Park Global Capital is an independent alternative asset management firm that manages approximately $6.8 billion. The firm manages a diversified product mix including hedge funds, bespoke client solutions, private investments, CLOs and structured credit to large, sophisticated institutional investors. Napier Park Global Capital has offices in New York and London. For more information visit www.napierparkglobal.com.
About Options IT (www.options-it.com):
Options is the premier provider of infrastructure products to the Global Financial Services sector. Founded in 1993, the company began life as a hedge fund technology services provider focused on the London market. More than a decade ago, the company made a strategic decision to become the first provider to offer cloud services to the financial sector. The result was the Options PIPE® Platform and the “Private Financial Cloud” offering. Today over 130 firms globally leverage Options PIPE®, including leading hedge funds, funds of funds, proprietary trading firms, market makers, broker/dealers, private equity houses, exchanges and global investment banks.
Options PIPE® Platform Services:
An ultra-low latency market data, connectivity and application hosting service for all major markets across North America, Europe and Asia
A fully managed and optimized financial application hosting service for proprietary and third-party applications spanning the front-, middle-, and back-office
A complete business technology infrastructure service supporting all desktop and communication technology essential to financial services firms
For additional information about Options, contact:
Spotlight Financial Marketing
For additional information about Napier Park, contact:
Mickey Mandelbaum or Maya Pogoda