Deutsche Bank has won a loan services and fund administration mandate from Pacific Asset Management.
Deutsche Bank’s alternative fund services and structured credit services have teamed up to offer a fully integrated solution which includes AFS’s fund administration technology and SCS’s CDO Suite platform.
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This mandate will offer trade capture, trade settlement, daily cash reconciliation, cash flow reporting, portfolio and transaction reporting for Pacific Asset Management’s new investment fund focused on bank loans.
The partnership will also provide automated daily pricing of bank debt and reporting for the new Pacific Asset Management Bank loan fund.
a subsidiary of Pacific Life Insurance Company that manages in excess of USD 4 billion in fixed income strategies.
Rex Olson, senior managing director from Pacific Asset Management, said: "Deutsche Bank’s expertise in bank loan administration and settlement, combined with their innovative fund services platform made them a clear choice."
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By GlobalDataSteven Park, head of structured credit sales & product management, global transaction banking at Deutsche Bank, said: "Our automated data and information flow between SCS and AFS is just one illustration of Deutsche Bank’s ability to offer a full suite of products and services in a fully customizable platform to our clients."
