New York, NY (Vocus) February 13, 2010
LS Power, a New York-based investment firm focused on the development, acquisition and management of power generation and transmission infrastructure, has selected SunGard’s Investran to help address its accounting needs for private equity administration. LS Power will use Investran for customer relationship management and investment and partnership accounting. Investran supports the entire investment lifecycle, from fundraising to reporting and portfolio monitoring, by automating front-, middle- and back-office processes for private equity and alternative investment firms.
With more than $11 billion dollars in debt and equity raised since 2005, LS Power has executed some of the power sector’s most successful transactions. LS Power needed a solution that would help it to efficiently analyze, track and disseminate an increasing flow of transactional data. Investran will help LS Power to monitor current investments more efficiently, manage investor allocations and automate the accounting workflow. Investran will also provide LS Power with streamlined and automated reporting, auto-generated capital calls and distribution notices, and performance reports including dynamic investment rate of return. Finally, it will give LS Power the ability to evaluate and track relevant qualitative data for active portfolios.
Mark Brennan, senior vice president and treasurer of LS Power, said, “With our business facing an influx of information, we needed SunGard’s Investran to help us more efficiently meet our accounting and reporting needs. Investran is also a reliable tool for managing investor inquiries and centralizing due diligence, which will help us to reduce operational risk.”
Emanuel Mond, president of SunGard’s alternative investments business, commented: “SunGard’s approach to the private equity business is such that we combine the strength of a flexible, functionally-rich solution with both industry expertise and a consultative approach to helping our customers meet their private equity administration needs. Investran is an award-winning solution that continues to provide reliable innovative solutions to help our customers grow their businesses.”
About LS Power
LS Power is a power generation and transmission group with a proven track record of successful investment activities, operations management and commercial execution. LS Power has been involved in the acquisition, development, construction, or operations of over 20,000 MW of power generation throughout the United States. LS Power is actively developing both power generation and transmission infrastructure to serve the need for new generation and improve the aging transmission system. Highly regarded in the financial community, LS Power has raised over $11 billion in debt and equity since 2005. For further information, visit http://www.lspower.com.
About SunGard Investran
SunGard Investran is an integrated application suite that automates front-, middle- and back-office processes for private equity and alternative investment firms. Investran helps improve business efficiencies to facilitate collaboration, support deal flow and automate accounting. Firms rely on Investran’s integrated capabilities to help meet their needs in the entire investment life-cycle, including relationship management, reporting, monitoring, accounting, fund raising and deal pipeline management. For more information on Investran and SunGard’s portfolio of alternative investment solutions, visit http://www.sungard.com/investran.
SunGard is one of the world’s leading software and IT services companies. SunGard serves more than 25,000 customers in more than 70 countries.
SunGard provides software and processing solutions for financial services, higher education and the public sector. SunGard also provides disaster recovery services, managed IT services, information availability consulting services and business continuity management software.
With annual revenue exceeding $5 billion, SunGard is ranked 435 on the Fortune 500 and is the largest privately held business software and services company on the Forbes list of private businesses. Based on information compiled by Datamonitor*, SunGard is the third largest provider of business applications software after Oracle and SAP. Continuity, Insurance & Risk has recognized SunGard as service provider of the year an unprecedented six times. For more information, please visit SunGard at http://www.sungard.com.
*January 2009 Technology Vendors Financial Database Tracker http://www.datamonitor.com
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