Napier Park Global Capital has chosen Options, a provider of Infrastructure-as-a-service (IaaS) products for the global capital markets industry, as the fund’s technology infrastructure. Napier Park, a Citigroup spinout, is an independent alternative asset management firm with about $6.8 billion under management.
“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.”
The company will use 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.
“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,” said Options CEO Nigel Kneafsey.
CLO Inside Track: In the aftermath of the financial crisis, regulators have stepped up requirements for banks and securities companies, increasingly making “Fin Clouds” more of a “must-have” than a luxury. Asset-management companies like Napier Park are well aware that internal costs are under the microscope – at the same time that these firms are required to provide greater transparency. “Adoption of the Options Private Financial Cloud has been increasing greatly over the last few years in both the hedge fund and banking communities,” explains Callum Runcie, Napier Park’s Head of Buy Side Sales for Options. That financial private-cloud trend is likely to continue as financial companies swap internal management for a platform that meets their needs – and the enhanced requirements placed upon them by regulators.
(For more information visit Napier Park at www.napierparkglobal.com or Options at www.options-it.com).
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