Nirvana Solutions & Saratoga Prime Services

Nirvana Solutions & Saratoga Prime Services

Nirvana Solutions, provider of Nirvana(TM), a real-time portfolio management system for multi-prime hedge funds, prime brokers, and fund administrators, today announced that Saratoga Prime Services has selected Nirvana(TM) to provide a multi-prime technology solution to its hedge fund clients.

Saratoga Prime is the latest of several recent mini-prime client wins for Nirvana Solutions as hedge fund managers and the prime brokers that service them are increasingly demanding more advanced technology solutions that can offer real-time transparency in a multi-prime environment.

"We are delighted to work with Saratoga Prime to offer its hedge fund clients our real-time portfolio management system, Nirvana(TM)," said Steve Lewczyk, partner and co-founder at Nirvana Solutions. "The dislocation of the market and its impact on hedge funds has led to a complete structural overhaul of our industry. This is particularly true for prime brokerage where the leading primes have retreated from the sub-billion dollar prime services segment. The mini-primes are now rushing to fill this services vacuum. Interestingly, at the same time, we are also seeing that hedge funds' requirements have become much more demanding. Real-time portfolio management systems that can offer execution-by-execution views of critical data such as P&L and Risk in a multi-prime and outsourced environment are now considered a pre-requisite. Saratoga Prime has put themselves very much at the forefront of these trends."

Said Lance Baraker, managing director, Saratoga Prime Services, "The downfall of many financial services firms in 2008 has permanently altered the landscape of the prime brokerage industry. No longer can a $500 million hedge fund be primed with a single custodian. Teaming up with Nirvana has allowed Saratoga Prime to offer real-time reporting that is fully integrated with our tri-custodian model to offer a multi-asset, multi-currency and multi-exchange solution."

Added William Katts, managing member of Saratoga Prime Services, "There is a dire need for transparency in today's volatile market, and monitoring risk in real-time is of the utmost importance. Our proprietary risk tools and the Nirvana platform provide our clients with an all-encompassing real-time risk management solution that is unparalleled in our industry."

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, prime brokers, and fund administrators. Nirvana(TM) is the hedge fund industry's first portfolio management system built around the Financial Information Exchange (FIX) protocol. The ability to dynamically accept FIX messages, combined with the aggregation of multi-prime data, ensures true real-time views of critical measures such as P&L and Risk. Nirvana's ability to offer real-time transparency is complemented by a full suite of on-demand and historical reporting. The Nirvana solution is made available in an easy-to-deploy Software as a Service (SaaS) model and can be implemented in a modular or complete fashion.

More on Saratoga Prime Services may be found at

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Tags: Nirvana Solutions, Saratoga Prime Brokerage, Lance Barker, William Katts, Mini Prime Brokerage, Small Prime Brokerage Firms, hedge fund, hedge funds

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