Yesterday, Charles River Development (Charles River), a provider of financial software and services to the investment management community, announced that New Amsterdam Capital (NAC), a London-based investment firm with more than €3 billion (US$4 billion) invested in the European loan market, has implemented the Charles River Investment Management System (Charles River IMS) for the portfolio management, trading and compliance monitoring of its leveraged loan operations. Charles River IMS supports all of NAC's trading and booking of leveraged loan investments for both the primary and secondary markets.
Charles River's implementation experts and NAC's in-house project team worked closely to address the workflow requirements of leveraged loans, for example extended settlement dates. The Charles River IMS reduced NAC's trading and compliance risks by automating manual processes and providing a centralised tracking system that offers authorisation 'sign off' check-points throughout the lifecycle of a trade, the software provider says.
"NAC was one of the first European managers to tap into the leveraged loan market, and we required a single, integrated trading and compliance platform," comments Pramal Patel, chief operations officer, NAC. "Our research showed that the Charles River IMS was one of the most appropriate systems available to support our activities and future growth. We expect it to continue to meet our needs as we expand our business."
"The leveraged loan market has grown exponentially over the past few years," adds Tom Driscoll, vice president, sales and marketing, Charles River Development. "We recognised this trend, and are pleased to extend Charles River IMS support to a growing asset class."