The custom software developer has teamed with Coller, a hedge fund based in London, on internal applications development.
Coller Capital, managing assets of about $10 billion, has specialized in secondaries─investments in previously-committed private equity funds─since its inception. The firm closed its sixth secondaries fund this year, winning $5.5 billion in that drive alone.
The partnership with DataArt was initiated in 2011, with the provider's staff working alongside Coller's IT team on software and applications to support the fund's front- and back-office operations. The development process includes an automated testing framework, and has tackled both new custom applications as well as the extension of existing functions.
"Our business evolves at an extraordinary rate which means as an IT team we have to respond quickly to meet the changing needs of the organization. DataArt's extensive domain knowledge, tested team and proven ability to deliver in tight timelines made them the ideal partner for Coller," says Howard Lask, CTO at Coller Capital.
Bill Murphy, CTO of Blackstone, once again joins the podcast to discuss the private equity firm's new offices, designed to house its innovations team.Subscribe to Weekly Wrap emails