Investment management firm Lighthouse Partners, which serves fund of hedge funds, will use fund administrator SS&C GlobeOp to perform credit value adjustment (CVA) calculations.
"The addition of the CVA calculations provided by SS&C GlobeOp is an important enhancement to the production efficiencies on our managed account program. These services ensure the timeliness of applying a fair value to all positions in accordance with FASB accounting standards. Lighthouse is at the forefront of implementing industry leading risk mitigation initiatives," says Robert Swan, chief operating officer at Lighthouse Partners, which manages about $7 billion.
This is an extension of an existing agreement as, according to a spokesperson, SS&C already provides "full middle and back office services, fund administration services, regulatory services, tax preparation services, financial statement preparation services, business process outsourcing services and managed services."
SS&C Technologies officially acquired GlobeOp Financial Services in June 2012.
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