Viteos Fund Services, a global hedge fund operations service provider, launched a PIPES specific middle office service and fund administration offering.
The service covers the post-trade lifecycle of PIPES activity including: deal documentation and document storage; trade operations; reconciliations; conversions; broker/cp interaction; sales tracking; prospectus tracking; support for regulatory filing; support for internal compliance related information; and host of customized reporting. The solution also addresses valuation and FASB 157 requirements specific to PIPES.
“Hedge funds are looking for tactical outsourcing solutions that can help them address and solve their complex middle office operational challenges,” says Chitra Baskar, COO of Viteos Fund Services. “These funds are increasingly frustrated with legacy ‘cookie-cutter’ solutions to their unique problems. Our approach has been, and will continue to be, one in which client needs define the offering, and where we serve as a strategic partner in their business growth. We will continue the introduction of stand alone services that combine unique technology platforms with personnel, to meet the rapidly changing operational needs of our clients. We believe the benefits of outsourcing dramatically increase how competitive and responsive our clients can be in today’s very volatile market.”