Case Studies

Learn how Nirvana streamlines and upgrades the investment process and operational infrastructure for a wide array of asset managers and service providers.
Nirvana’s modular, comprehensive and cloud-based technology has been selected as the software of choice for a wide array of asset managers, institutional investors and service providers. Discover how Nirvana solved operational challenges for these clients:

CRITICAL PART OF OUR OPERATIONAL BACKBONE

"Nirvana has become a critical part of our operational backbone. They replaced our big brand OMS and automated our operation to an extent that we were able to double our assets without increasing operational headcount, while reducing my spending. More importantly, their responsiveness and ability to customize and adapt to our ever-evolving complex needs enabled us to diversify into separately managed accounts and bespoke products. We would have been hard pressed to do that with our OMS provider pre-Nirvana. They have made our business significantly more scalable from an operational perspective. That combined with the best service I've ever experienced in this industry literally saves my business 20-40 man-hours per week."

-Global $330 million Hedge Fund

Chief Financial Officer

BEST IN BUSINESS CUSTOMER SERVICE

"In the ETF community, our new assets come into our fund by way of “creation units”. Unlike cash subscriptions, creation units represent delivery of our securities on an “in kind” basis. Nirvana rose to the occasion of this nuance in the ETF world and designed their system to fit our uncommon needs. That combined with best in the business customer service has been a huge help to our team and the family office that owns our firm."

-ETF Manager owned by Multi-billion Dollar Family Office

Chief Financial Officer

HEDGE FUND: REPLACING LEGACY OMS WITH INTEGRATED FRONT-TO-BACK WORKFLOW

THE CLIENT
Global multi-product long/short hedge fund with $330 million in assets across 3 funds, 4 pooled investment vehicles, and a UCITS vehicle.

THE CHALLENGE
With a strong track record and a growing investor base, the Client was struggling to streamline their complex operational infrastructure across all of their products.  They were burdened with a legacy OMS from a well-known brand which was:

  • Operationally inefficient
  • Required manual reconciliation and accounting
  • Expensive to maintain
  • Inadequate to facilitate growth

THE SOLUTION
Needing to improve operational scalability and move to the cloud, the Client implemented Nirvana’s integrated, cloud-based, front-to-back workflow platform, which replaced their OMS and delivered a full shadow accounting system, all on a single database.  Their reconciliation was automated and their service upgraded.  In the words of the Client’s CFO, “Nirvana replaced our OMS and automated our operation to an extent that we were able to more than double our assets and exponentially increase our ability to handle multiple customized, i.e. potentially different investment parameters/guidelines, SMAs without increasing operational headcount, while reducing our spending”.  Since making the change, they’ve been able to expand to 3 pooled funds and 4 SMAs, including a UCITS vehicle, with automated reconciliation across 3 prime brokers, 3 custodians, and 7 fund administrators, all without adding staff.

SOLUTION: CLOUD-BASED OMS

Nirvana’s cloud-based software streamlined the Client’s investment process and integrated their front, middle and back office onto a single platform firmwide.

SOLUTION: DATA MANAGEMENT

Nirvana’s data management service allowed the Client to save 20-40 man-hours per week with automatic position, trade, and cash reconciliation and expert data oversight, without having to hire.

SOLUTION: SHADOW ACCOUNTING

Nirvana’s General Ledger delivers portfolio accounting with a full shadow of this firm’s business across six fund admins.

HEDGE FUND: MODULAR OMS WITH NO DISRUPTION TO EXISTING INFRASTRUCTURE

THE CLIENT
Global hedge fund with $800 million AUM managing 4 funds across 3 prime brokers.

THE CHALLENGE
The Client relied on a well-known legacy accounting system, with a cumbersome trade workflow, which was becoming increasingly inadequate for handling the firm’s growing assets and funds.  The Client needed an OMS to automate their trade operations and integrate with their existing accounting system without disrupting an accounting platform that held a decade’s worth of historical data.

THE SOLUTION
Nirvana’s modular design delivered the right solution.  The Client was able to integrate Nirvana’s robust OMS with their existing portfolio accounting system in order to more efficiently run their trade operations and automate allocations across multiple vehicles and counterparties.

ASSET MANAGER / FAMILY OFFICE: BUILDING OPERATIONS ON THE CLOUD FOR A NEW LINE OF FUNDS

THE CLIENT
Multi-billion dollar family office asset manager launching 2 new publicly-traded long-only ETFs, one global and the other U.S.-focused.

THE CHALLENGE
The Client wanted to develop an infrastructure to support its new line of business.  While the portfolio manager was looking for a user-friendly system, the CFO emphasized an integrated workflow from front to back office.  The Client also wanted to equip its sales staff with intraday performance to supply existing and prospective investors.

THE SOLUTION
The Client evaluated large brand name providers before selecting Nirvana, which provided them with an integrated PMS, OMS, data reconciliation and portfolio accounting platform.  Our flagship Nirvana Touch feature also allowed the Client’s Sales and Investor Relations teams to access real-time performance data and client reports through a user-friendly interface on mobile devices with just a wifi connection.

Nirvana rose to the occasion when it came to adapting to the nuances of our unique business. That combined with best in the business customer service has been a huge help to our team and the family office that owns our firm.
-CFO of ETF Manager Owned by Family Office

PRIVATE EQUITY WITH HEDGE FUNDS: SYSTEMATIZING A COMPLEX OPERATION

THE CLIENT
Private equity firm with over $3 billion in assets managing multiple accounts, including long-only and hedge funds.

THE CHALLENGE
With a hardworking team of over 30 employees running the firm’s operations, the Client sought to modernize its infrastructure and achieve the latest standards and practices by bringing in systems to streamline its workflow. The goal was to maximize the productivity of its very strong operations team by minimizing their reliance on manual processes and spreadsheets, and improving the investment process.

THE SOLUTION
Nirvana’s comprehensive suite of cloud-based products and services provided the scalable infrastructure they needed to automate their workflow, enhance the investment process, and improve efficiency.

PRIME BROKER: DATA MANAGEMENT AND SHADOW ACCOUNTING FOR SERVICE PROVIDER

THE CLIENT
Large brokerage house running a full-service prime brokerage business servicing hedge funds ranging from emerging to established managers.

THE CHALLENGE
As a full-service prime broker, the Client’s needs were varied and complex, ranging from basic prime brokerage reporting to back office operations, premium reporting, and a hosted, branded web portal to serve their full base of clients as well as their internal team.

THE SOLUTION
The Prime Broker selected Nirvana’s cloud-based platform due to its reliable data management services, shadow accounting system and premium reporting.  Our middle and back office solutions allowed them to meet the demands and needs of their clients and efficiently grow their business. Our tiered offering allows the Prime Broker to deliver the right solution to each of its clients, from an emerging manager seeking a basic reporting service to a large manager needing to replace expensive, brand name providers with Nirvana’s streamlined platform to serve the needs of the front, middle, and back office.

FUND ADMINISTRATOR: IMPLEMENTING SCALABILITY AND REDUCING COST

THE CLIENT
Global fund administrator with approximately $30 billion aggregate assets under administration.

THE CHALLENGE
The Administrator needed a robust and scalable infrastructure that could effectively meet the demands of their growing client base.  They sought a reliable and comprehensive system that could:

  • Automate workflow
  • Achieve operational straight-through processing (STP)
  • Minimize cost

THE SOLUTION
Nirvana’s suite of products and services provided the scalable infrastructure they needed to automate their workflow, achieve operational STP, and facilitate growth while minimizing costs. The Administrator also leveraged Nirvana’s front-end technology, including a white-labeled version of Nirvana Touch, to enhance their product offering without having to invest in an in-house technology staff. As a mid-sized firm, their partnering with Nirvana allows them to compete with larger fund administrators.

SOLUTION: SCALABILITY

Nirvana’s cloud-based software delivers a platform that scales and reduces cost as the business grows, allowing a healthy growth in margin.

SOLUTION: NIRVANA TOUCH

The Administrator was able to enhance its product offering through a white-labeled version of Nirvana Touch which enables mobile access to premium reports through a user-friendly interface.

SOLUTION: PREMIUM REPORTING

Nirvana’s premium reporting and analytics was made available to the Administrator’s clients as a supplement to their own statements and reports.