Press Release - Nirvana Solutions Publishes 'A Guide to Overcoming the Operational Challenge of Multi-Prime' - Oct 28, 2008

SAN FRANCISCO, Oct. 28 /PRNewswire/ -- Nirvana Solutions, a provider of real-time portfolio management systems for multi-prime hedge funds and prime brokers, announced today that it has published a white paper entitled "A Guide to Overcoming the Operational Challenge of Multi-Prime".

"We are now witnessing the biggest dislocation of hedge funds in the industry's history," stated Peter Curley, Managing Partner at Nirvana Solutions. "Already more than 1000 funds have left the leading primes in search of new prime broker and custodial relationships. Funds were primarily motivated by the urgent need to diversify counter-party risk and therefore did not have time to consider the operational consequences of going multi-prime. In the coming months, as the dust begins to settle, we will see funds begin to turn their attention to this operational challenge. At the heart of this challenge is the need to dynamically aggregate multi-prime data and generate real-time views of P&L and Risk. This guide is intended to educate the community on the different multi-prime solutions that are available today."

About Nirvana Solutions

Founded in 2006, Nirvana Solutions is a San Francisco based software company that provides real-time portfolio management systems to multi-prime hedge funds and prime brokers. PRANA (TM) is the hedge fund industry's first real-time portfolio management system built around a trading engine. Prana's ability to accept FIX messages combined with its dynamic aggregation of multi-prime data, ensures true real-time views of critical measures such as P&L and Risk. For more information visit http://www.nirvanasolutions.com.