Arcesium Technology Expands JP Morgan Partnership for Fund Managers Offering
JP Morgan has now converted a ‘substantial portion’ of its alternative investment services business to the post-trade technology provider.
JP Morgan has extended its agreement with Arcesium Technology to provide a bespoke offering for fund managers and is aiming to have all clients live on the new platform by the end of 2019.
The custodian and fund administrator said it has converted a ‘substantial portion’ of its alternative investment services business to the post-trade technology provider.
The new advancements from Arcesium will allow end users to have their own technology, data model and integration to inbound and outbound systems, while connecting to their administrator for NAV calculation and all investor-related services and communications.
“Sophisticated managers have long maintained internal systems, typically in support of front office activities, but more recently, to shadow the activities of their administrator,” said Joan Kehoe, global head of JP Morgan alternative investment services. “We have seen opportunities to streamline and automate this two-way information transfer between those records we keep as an administrator and our clients’ systems, a task that has historically been complex due to different applications, data models, sources of information, and timing.”
Global Custodian reported the announcement of the partnership between JP Morgan and Arcesium back in December 2017, as the custodian sought to make strides in competing with other technology-orientated administrators.
The partnership was understood to be part of JP Morgan’s larger efforts to invest into its fund administration business following the appointment of Quintillion founder Kehoe as head of alternatives investment services two years ago.
“We are investing massively in our business, particularly by working with leading technology providers, to offer our clients solutions to their most complex operational and data management challenges,” said Kehoe. “Our goal is to have all clients live on this new technology platform by year-end 2019, with our global team of professionals operating from a single, unified platform.”
About Arcesium LLC
Arcesium is a global financial technology company delivering pre- and post-investment and enterprise data management solutions to some of the world’s most sophisticated financial institutions, including hedge funds, banks, institutional asset managers, and private equity firms. Expertly designed to achieve a synchronized golden source of data throughout a client’s ecosystem, Arcesium’s cloud-native technology is built to systematize the most complex tasks and help clients achieve scale.
Today, Arcesium services over $685 billion in global client AUM with a staff of over 1,950 software engineering, accounting, operations, and treasury professionals. Arcesium was built from a platform developed and tested by investment and technology development firm, the D. E. Shaw group, and launched as a joint venture with Blackstone Alternative Asset Management. J.P. Morgan, another large client, later made a strategic investment in the company, helping Arcesium further its mission: to power the entire investment lifecycle.
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