- Alternative asset management firm migrates infrastructure ahead of Volcker rule deadline using Sky Road services
CHICAGO & NEW YORK – 22 October, 2013 – Sky Road, a managed service provider for customizable trading and risk platforms, today announced that the firm has successfully enabled Napier Park Global Capital, a global alternative asset management firm with $6.7 billion in assets under management , to complete the firm’s trading application infrastructure spinout from Citigroup (NYSE:C). Sky Road, leveraging its unique solution delivery model that blends trading software expertise and daily operational process support, was able to successfully migrate Napier Park existing trading platforms.
Facing a short timeframe to meet the Volcker Rule’s 2014 deadline, Napier Park selected Sky Road as the technology partner for both domain expertise and end-to-end management of Napier Park’s existing trading and operational system infrastructure. To meet these aggressive time constraints, the project tapped into key operational support elements available in Sky Road’s services platform. Working alongside Napier Park’s IT organization, Sky Road’s dedicated project team was able to successfully conduct knowledge transfer, transition the platform to Napier Park’s independent data center and take over day to day operational support from the existing IT support team at Citi.
According to Michael Williams, Managing Director and Chief Operating Officer at Napier Park, “In light of the rapid delivery requirements, we knew we needed a partner with both the domain expertise and proven track record of managing and developing trading platforms end to end. Sky Road was a critical part of the project team that delivered ahead of schedule with zero disruption to our business processes. As Napier Park continues to grow, we are confident that Sky Road will enable us to build upon and streamline our trading and risk platforms to best fulfill our investment objectives and serve our investors.”
“The Volcker Rule presents numerous challenges to institutions that must now transition complex fund operations and workflows into an independent environment in a greatly compressed timeframe. This becomes particularly challenging when considering the diversity and sophistication of firms’ trading strategies,” explains John Borse, Founder and President of Sky Road. “By offering a turn-key managed service solution that combines technology and operational support, we have a proven solution for institutions facing rapid transition demands, especially the provisional July 2014 Volcker Rule deadline.”
Napier Park is an independent asset management firm with approximately $6.7 billion under management as of July 1, 2013, and more than 110 employees in offices in New York and London. The 100% employee-controlled firm offers a broad range of investment products to select institutional investors.
About Sky Road LLC
Sky Road provides innovative solutions to the financial services industry through its Motion Services Platform. Since its inception in 2005, Sky Road has continued to break new ground in developing trading and risk solutions for a broad range of clients including banks, hedge funds, proprietary trading firms, asset managers and buy-side service providers. Headquartered in Chicago, Sky Road has a proven track record of successfully delivering solutions to market participants worldwide. For more information, please visit dev.skyroad.juiceinteractive.com.
About Napier Park Global Capital
Napier Park Global Capital is an independent alternative asset management firm with a core focus on alternative credit and structured investments that manages approximately $6.7 billion. The firm manages a diversified product mix including hedge funds, bespoke client separate accounts, private investments, and CLOs for large, sophisticated institutional investors. Napier Park Global Capital has offices in New York, London and Dubai. For more information visit www.napierparkglobal.com