Press Release
Athilon Structured Investment Advisors
Selects the Principia System to Manage its Structured Credit Business
Jersey City, NJ – January 25, 2005 -- Principia Partners LLC,
a leading technology provider of comprehensive front-to-back office
solutions for managing highly complex, structured financial assets,
liabilities and derivatives, today announced that Athilon Structured
Investment Advisors has licensed the Principia System to manage the
complete trade lifecycle of its credit trading operation. The system
will manage transactions from deal capture to risk management to
reporting and accounting.
Athilon Structured Investment Advisors act as advisor to Athilon Capital Corp. and Athilon Asset Acceptance Corp. (collectively, “Athilon”). Athilon is one of the first financial firms of its kind, providing credit protection on a portfolio basis to investment banks, commercial banks, insurance companies and other institutions. Athilon will apply its proprietary multi-disciplinary and highly sophisticated techniques to assess risk and monitor performance of portfolios of structured credits, which are managed and processed in the Principia System. These cover a wide range of credit derivatives, including credit default swaps, basket products and synthetic CDOs.
“Initially, our business will be highly focused on writing protection on structured credit risk,” states Paul Sclafani, CEO of Athilon Structured Investments Advisors. “However, given our experience and skill sets, we expect to expand into related businesses such as asset management and CDO management. We selected Principia because the system provides the advanced, proven portfolio management, risk management, administration and accounting capabilities that can be rapidly implemented and scaled with our business in terms of volume and product breadth.”
“We are excited to be working with Athilon,” states Harvey Rand, EVP, Sales & CRM at Principia Partners. “They are pioneers in applying innovative credit arbitrage strategies that bridge opportunities between the converging insurance and capital markets industries.” Principia Partners is a leading provider to insurance companies who manage derivatives and structured products, using capital market valuation and risk management methodologies.
About Principia Partners
Principia Partners is the leading software provider for the management and administration of structured finance and credit investment operations. Some of the largest investors in structured credit ABS, MBS and CDOs use Principia SFP as the operational backbone for their portfolios. It enables them to consistently manage, analyze and report on these investments and their associated liabilities and hedges. On a single platform, clients can perform the full range of portfolio management, cashflow and exposure analysis, compliance, risk reporting and accounting activities demanded by their business. Operational inefficiencies associated with using multiple spreadsheets and undedicated systems are reduced by integrating and streamlining these activities on a unified platform that addresses challenges unique to the management of structured finance operations.
Principia SFP’s powerful analytics and ability to interface with, combine and consistently apply deal, cashflow and performance data from the leading industry providers empowers managers to know and understand their investments. On an ongoing basis, users have the control to track, analyze and evaluate risk exposures at the deal, tranche or collateral level and gain a consolidated view of risk across any number of portfolios. The fully auditable operational environment provides the flexibility needed to adapt to changing management, regulatory and accounting mandates and ensure transparency is consistently delivered to investors at every stage of the portfolio lifecycle.
For 15 years, the platform has been used by global commercial banks, insurance companies and investment managers, as well as supporting off-balance sheet operations such as ABCP conduits.
Principia Partners is headquartered in New York, with a European office in the City of London and a technology center in Conshohocken, Pennsylvania.
For press information contact:
Ben Jarrold
Tel: + 44 (0) 20 7618 1370
Email: Jarrold@ppllc.com