Arcesium launches new performance allocations product, PerformA

The new product moves Arcesium into the private equity space, expanding from its typical focus on hedge funds and fund administrators.


By Wesley Bray

Post-trade technology vendor Arcesium has expanded its offering with alternatives investment managers with the launch of a new performance allocations tool designed to streamline and reduce fund accounting risks.

The new PerformA tool aims to simplify the investor accounting process and reduce the risks, costs and manual errors associated with typical spreadsheet-based fund accounting.

PerformA moves Arcesium solidly into the private equity space, expanding from its typical focus on hedge funds and fund administrators.

“Having developed and refined our performance allocations technology closely with a small group of strategic clients over a number of years, we are excited to bring PerformA to the broader market – not only our core hedge fund and fund administration customers, but also private equity funds, where we see significant need for such a solution,” said Gaurav Suri, CEO of Arcesium.

The solution is tailored for various client types, including hedge funds, fund administrators and private equity firms.

“For years, the financial services industry has relied principally on Excel for its investor accounting processes, despite investing heavily in advancing its technology to support other areas of the business. This has changed over the last year as the industry has demonstrated growing demand for technology solutions across the spectrum of post-investment processes,” said David Nable, head of client and partner development at Arcesium.

“Given the range of firms interested in an automated solution for performance allocations, PerformA is a natural extension of our strategy.”

Launched as a spin-off from US hedge fund giant D.E. Shaw, Arcesium has grown into a major player in the alternatives space, where it provides a substantial portion of JP Morgan’s alternatives fund administration post-trade technology.

In September, Arcesium opened a new London office and hired Chris Barrow, the former global head of HSBC and Nomura’s prime finance sales divisions, to lead its expansion into Europe.