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Lone Pine Capital Taps SS&C's Form PF Solution

Hedge fund chooses SS&C's web-enabled Form PF application for compliance with a new rule that requires investment advisers and private funds to provide data to the Financial Stability Oversight Council for monitoring systemic risk.

Lone Pine Capital LLC, a hedge fund based in Greenwich, Conn., has chosen SS&C Technologies software application as its Form PF reporting solution.

The long-short equity hedge fund, which has approximately $22.7 billion in net assets under management, is using SS&C’s web-enabled Form PF applications and expertise to help comply with Form PF, a new regulatory requirement under the Dodd Frank Act applicable to investment advisers, hedge funds, private equity funds and other private funds that meet certain asset thresholds.

Investment advisers that are subject to these rules will be required to report information on a quarterly or annual basis for analysis by the Financial Stability Oversight Council (FSOC) which is charged with monitoring systemic risk in the U.S. economy, notes SS&C in the release.

Lone Pine Capital is managed by Stephen Mandel Jr., , who is part of the "Tiger Cub," a member of an elite group of fund managers who were once proteges of legendary fund manager Julian Robertson Jr. at Tiger Management Corp. , according to the web site, FINS Finance. In 2005, Mandel helped Lone Pine realize returns of more than 30% by investing heavily in Google, according to FINS Finance, which tracks hedge funds.

Commenting on the news, Rahul Kanwar, SVP, SS&C Alternative Assets, said: "We are honored that Lone Pine, a long-time customer, has selected us for this critical regulatory requirement. Kanwar said that SS&C is “uniquely positioned” as the only software company and top ten fund administrator offering Form PF services in a controlled, scalable and efficient way.

“We have developed and deployed a cloud solution providing funds full access and visibility into the filing, and support with fund operations, valuation, risk and compliance experts."

SS&C's solution is cloud-based, and offers clients access to every aspect of data collection, workflow management and submission of Form PF online, the company said in today’s release. The web-based solution supports complex fund structures, and multiple asset types and data sources. SS&C's Form PF solution can be used by current fund administration clients or on a stand-alone basis by funds who use third party administrators or an in-house process.

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio

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