- Alternative Investment Group and Collins Capital Cogency's fifth and sixth new fund of funds clients in the past 90 days
Cogency Software, Inc., a provider of integrated management solutions for the alternative investment industry, today announced the signing of two more new clients for its Fund of Hedge Funds Insight(tm) solution. This brings to six the number of such new relationships in the past few months and seven in total since Cogency shifted its marketing focus to the fund of hedge funds sector in mid-2006.
Alternative Investment Group, an independent investment management firm headquartered in Southport, Connecticut, signed with Cogency to meet its needs in the areas of fund and partnership accounting. The firm, which has over $1 billion in assets under management, anticipates completing implementation within the first quarter of 2007.
"We undertook a thorough evaluation of all potential, competitive solutions in the marketplace, and concluded that Cogency's answers to our accounting needs made them the clear choice in this space," comments Alternative Investment Group Partner, Marita Wein.
On January 2, 2007, Coral Gables, Florida-based Collins Capital became the latest Cogency fund of funds client, selecting its Fund of Hedge Funds Insight(tm) solution for investor management, portfolio & partner accounting, portfolio due-diligence & monitoring and compliance.
Dorothy C. Weaver, Chairman, Collins Capital comments, "Our strategic needs were twofold; Collins was seeking the most comprehensive suite of solutions available to meet the full needs of a sophisticated, diverse alternative investment firm, with a strong driver being partnership and portfolio accounting software. We spent 18 months reviewing every available alternative in the marketplace, and at the end of the day, Cogency was the only viable choice."
Collins Capital's implementation will be comprised of three phases, with phase one expected to be operational in the first quarter of 2007. Full implementation of the Cogency Fund of Hedge Funds Insight(tm) offering will be concluded within the next six months.
New York-based Terrapin Partners LLC and a $2 billion investment firm located in California also selected Cogency in the fourth quarter of 2006.
"We're thrilled to add such prestigious clients as Alternative Investment Group and Collins Capital to our rapidly growing client roster in the increasingly active fund of funds sector," comments Jay McEntire, president and CEO of Cogency Software. "The pace of our ongoing sales activities and volume of such new relationships is unprecedented for Cogency or any of our competitors, and further validates our belief that we're offering the hands-down, best operational solutions to fund of fund managers, administrators and related service providers."