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 LLC (Principia) provides a comprehensive single platform solution for the end-to-end management of structured finance investments. Global financial institutions and independent asset managers have used the award winning Principia Structured Finance Platform since 1995 to unify investment analysis, portfolio management, risk surveillance, accounting and operational control across the breadth of structured credit assets, fixed income investments and complex derivatives.
For over 15 years Principia’s mission has been to help investors independently address the deal specific investment and cashflow analysis, valuation, risk management, reporting and due diligence requirements of structured credit investments and portfolios. Its dedicated support and continued development of functionality for structured finance instruments is accompanied by a proven and fully integrated derivative valuation framework. This overall credit investment and market risk solution delivers the robust backbone necessary for deeper investment analysis, proactive risk surveillance and operational control across the credit investment business.
Principia is based in New York, with an office in London and a technology center in Conshohocken, Pennsylvania. Principia SFP was awarded the Credit Technology Innovation award by Credit magazine in 2008, 2009 and 2010.
For press information contact:
Ben Jarrold
Tel: + 44 (0) 20 7618 1370
Email: Jarrold@ppllc.com