Fir Tree Partners selects Arcesium platform for middle- and back-office workflows

JP Morgan-backed FinTech provider wins mandate from US private investment firm. 

By Jonathan Watkins

US-based private investment managerFir Tree Partners, has selected Arcesium’s fully integrated technology platform and services solution to support its operational model. 

The JP Morgan-backed FinTech provider will provide Fir Tree with a single repository to manage their middle- and back-office workflows, unlocking efficiencies for their staff and streamlining operational processes. 

In addition, Fir Tree will leverage Arcesium’s scalable infrastructure designed to power its investment lifecycle, specifically addressing critical reconciliation, portfolio analytics, data management, treasury, and cash settlement functions.  

Arcesium was the first provider to intrinsically recognise the value of complementing technology with services,” said Don McCarthy, co-chief operating officer and chief financial officer of Fir Tree Partners. “Their agile technology enables our firm to shift our primary focus to our core business, our investment process, and, most importantly, our returns. Arcesium enabled a seamless transition during implementation and has worked closely with our team to maximise benefits and validate our decision to seek out external partners.” 

Arcesium spun out of DE Shaw Group, a global investment manager with around $25.8 billion in hedge fund assets, in 2015 and provides treasury, data management, portfolio accounting and other services to hedge funds. 

The post-trade technology provider gained crucial backing in January this year, when JP Morgan took a stake in Arcesium, expanding the relationship between the two organisations.  

Links between the two firms date back to December 2017, when JP Morgan announced it would use Arcesium’s middle- and back-office software to support its fund administration platform. 

“In this fast-paced environment, investment firms require innovative solutions to facilitate scale, and we are excited to deploy our solution to Fir Tree Partners,” said David Nablehead of client and partner development at Arcesium. “Our clients choose us for our integrated model, and we look forward to building a partnership with Fir Tree to support them today and in the future.”