Melqart Asset Management powers their operations with Enfusion’s Middle Office Managed Services
Melqart Asset Management has always taken the role of middle office very seriously, striking a balance between control and adding value for their clients, but was dealing with multiple systems and providers that could not keep pace with their growing business. By combining software and managed middle- and back-office services together in one seamless framework with Enfusion, Melqart is achieving operational success while driving cost savings and optimizing efficiencies. Now Enfusion’s expert staff have assumed the majority of the volume-sensitive middle office processes, enabling Melqart to focus on value-added functions. This collaboration is laying the foundation for growth.
Now Melqart can focus more on new opportunities, including the launch of a new macro fund trading across a widening range of complex alternative asset classes. Working hand-in-hand with a trusted partner means they know they can manage the operational complexity of their biggest growth ambitions.
Like many lean and rapidly growing alternative investment management firms, the company outsourced their middle office processes to multiple systems and vendors since their launch in October 2015. This resulted in teams using different processes and toolsets, and increased operational complexity.
Melqart used one toolset to handle the processes they owned, while their service provider used another. As Melqart grew, additional prime brokers and financial counterparties were added, and their operational workload increased and became more complex.
To support their growth plans, they required a comprehensive front-to-back solution that could handle an increasingly complex array of products and instruments. They sought a middle office service provider offering a broader range of services than the traditional administrator-led outsourced middle office. More than a software vendor, they wanted a partner that would be responsive to new demands and deliver best-in-class services.
Enfusion’s cloud-native SaaS platform of portfolio management, order and execution management, and accounting tools synchronizes front-, middle-, and back-office tasks. As a result, Melqart and Enfusion’s managed services have a single source of golden data at all times. System linkages for information sharing do not have to be cobbled together.
Enfusion also delivered functionality that enhanced Melqart’s ability to respond to events in-line with their event-driven strategy, all while making portfolio decisions, placing and completing orders, and then seamlessly handling cash, position, ISDA, and administrator reconciliations on the same platform.
Using Enfusion’s framework for investment management operations and service team of highlyskilled alternative investment professionals brought that platform seamlessness to an entirely different level of collaboration — two teams acting as one.
Benefits and ROI:
Enfusion’s Managed Services lets the Melqart team focus on managing their portfolios, trading, and conducting operations without disruption, with the muscle of the Enfusion team behind them.
Enfusion’s flexible platform and talent combine to meet the constantly evolving needs of a sophisticated investment manager across multiple funds and complex asset classes. Features include: