Vestmark has announced Center Coast Capital Advisors, LP’s selection of Vestmark Business Process Outsourcing (BPO) service to support and scale its growing master limited partnership (MLP) separately managed accounts (SMA) business.
Center Coast provides MLP SMAs that are comprised of a custom portfolio of publicly-traded securities in the energy midstream infrastructure sector.
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Vestmark BPO has enhanced this program by automating many of the labor-intensive processes associated with managed account trading and administration, including order management, compliance, account administration, reconciliation, and portfolio composite performance management, all while ensuring they are done accurately and resourcefully.
Rachel Hollowell of Center Coast, said: "Due to the rapid growth in our MLP offerings, we were faced with the challenges of managing robust platforms and accounts. This prompted us to outsource middle- and back-office operations. In this service provider, we required the flexibility to react to our evolving business needs, while gaining access to a top-in-class system. Vestmark BPO service provides us with the ability to automate and eliminate the manual time-consuming processes associated with SMAs and focus on our investment process and generating a high level of risk-adjusted returns for our clients."
Steve Camp, SVP of BPO, said: "Vestmark BPO service will enable Center Coast to focus on its core competencies and increase overall efficiency, all through a flexible and automated platform. We look forward to helping Center Coast maximize the value of VestmarkONE and our BPO service to enhance the quality of the investment services it provides MLP investors."
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