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A-Team Insight Blogs

Citadel Solutions Implements Asset Control’s AC Plus to Support Fund Admin Business

Citadel Solutions, a wholly owned independent subsidiary of Citadel Investment Group, has implemented Asset Control’s AC Plus data management software to support the growth of its fund administration business. According to John Buckley, president of Citadel Solutions, the firm selected the solution because it was quick to implement and flexible enough for its clients’ requirements.

Buckley says: “Having proved the superior value of robust middle and back office technology within Citadel Investment Group, we wanted to offer this same functionality to other hedge funds in the early stages of growth. AC Plus was quick and easy to implement, while providing a robust foundation that is flexible and extensible enough for the diverse and varying needs of our clients.”

Citadel Solutions, which delivers operational alpha to hedge funds through its technology driven hedge fund administration services, will use AC Plus to deliver market data to Citadel Solutions’ proprietary fund administration system. It hopes that by combining its proprietary technology with the AC Plus’ data model, it will have the ability to perform a broad range of critical data analyses.

According to Asset Control, AC Plus provides Citadel Solutions’ hedge fund clients with faster time to market in servicing new products regardless of complexity, along with increased transparency and the ability to scale easily for rapid growth.

Phil Lynch, Asset Control’s president and CEO, comments: “Citadel Solutions’ decision to use AC Plus for its fund administration services demonstrates the value of robust data management and its potential to generate revenue. Asset Control helps to take the operational burden out of data management, with Citadel Solutions as an example of a firm that is harnessing AC Plus’ capabilities to streamline data capture and standardise its distribution. By using AC Plus to enrich the platform it provides, Citadel Solutions is able to gain a competitive advantage through the application of advanced technologies.”

Despite the number of recent announcements of client wins for AC Plus, Asset Control says it has also seen strong interest in Tapmaster. “We have seen firms looking for solutions that combine the strengths of both products – AC Plus for centralised data management, combined with the distributed data capabilities that Tapmaster provides. The current economic climate creates increasing interest in solutions that strengthen firms’ financial data infrastructures in order to gain a better understanding of corporate exposure and get the most out of their existing systems by leveraging the data already resident inside the company,” adds Lynch.

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