Cyrus Capital Partners, a New York-based alternative investment management firm, has deployed Paladyne Credit Master, an integrated bank loan trading and loan administration platform, from Paladyne Systems, a solutions provider to the global hedge fund industry.
Paladyne Credit Master is a solution for managing the entire lifecycle of bank debt trading and operations and is available either as a fully hosted, application service provider (ASP) solution or as a local installation.
Paladyne Credit Master supports the front-and back-office needs of firms trading bank debt including portfolio analysis, trade capture and allocation, settlement and closing, pricing and P&L, compliance and portfolio reporting. It is integrated with Paladyne’s suite of product for a complete multi-asset class solution as well as with both SunGard VPM and Advent’s Geneva, including facility and contract details, transactions, daily accruals, pricing, and detailed accounting entries.
David Milich, partner and chief operating officer of Cyrus Capital, said: “Our decision to implement Paladyne Credit Master was based on the system’s ability to support our entire bank debt portfolio and its pre-existing integration with our portfolio accounting system, SunGard VPM. In addition, we were able to leverage Paladyne’s hosted platform, which significantly reduced our implementation timeframe and cost.”
