Penny Fast Facts

  • 640 funds

    deployed on system

  • 350 billion

    under administration

  • 2.5 seconds

    to close a period

  • 20 percent

    top administrators using

  • 3 weeks

    average implementation

What makes us different

Investor accounting is hard. We know, because we've done it for over two decades. It is definitely NOT something you want to do with a spreadsheet.

Our accounting software, Penny®, is tailored for the needs of hedge fund back-offices, fund administrators, investment management companies, private equity partnerships, and family office wealth management.

A specialized partnership and shareholder accounting solution, the system handles fees, G/L, A/P, and taxes – and manages the complexities of tranches, waterfalls, hurdles, layering, side-pockets, share equalization, clawbacks, feeders, commitments and withdrawals.

Penny® is designed and developed by TKS Solutions, a registered Microsoft Partner.

Acclaim

Penny® has been recognized for its utility and usability by industry experts, customers, and the media:

  • Penny is without doubt the most powerful and flexible hedge fund and partnership accounting package on the market today.

    Brian ShapiroCEO, Carbon 360

  • Penny intuitively automates key shareholder accounting tasks. It plays a key role in our overall infrastructure.

    Shawn ArmstrongManaging Director of IT

  • For hedge fund managers yearning to know which clients will come or go, Penny is the next best thing to a crystal ball.

    Svea Herbst-BaylissReuters

Management Team

  • Art Shulman

    CEO

    A seasoned executive with public and private arena experience, Art has successfully led both B2B and B2C organizations.

    Previously he was CEO of OPUS-ISM, a software systems provider, and President or COO of Walker Digital/Priceline ventures. He drives near term and sustained growth, and attended Northwestern's MBA program.

    LinkedIn profile »

  • Ron Kashden

    Founder

    Ron leads TKS technology operations. He has twenty years experience in financial services technology and accounting.

    Previously, he served as CFO of the Tiedemann Investment Group and headed software development at SAC Capital and HedgeWare. He is a CPA and holds a B.S. in accounting from Lehigh University.

    LinkedIn profile »

  • Nicole Licare

    Founder

    Nicole has a decade of experience in the hedge fund industry. Before joining the Penny team, she served as Director of Professional Services for SS&C Technologies' hedge fund division.

    At SS&C, she was responsible for all product management, development, and consulting support for AdvisorWare, HedgeWare, and Total Return.

    LinkedIn profile »

  • Sue Walsh

    VP, Client Services

    Sue is a CPA with over 20 years of experience in hedge funds, private equity and partnership taxation. She previously managed accounting services at HedgeWare.

    An expert in the nuances of partner and shareholder investment funds, Sue has a BS in Business Management, Marketing and Accounting from Cornell University.

    LinkedIn profile »

  • Peter Cunha

    Director, Business Relations

    With a decade of experience as a securities trader at Palantir Capital and Jennison Associates, Peter has first-hand knowledge of the ins-and-outs of financial accounting.

    Peter has a B.S. from Pace, and completed post-graduate work at City College of Tulane. He has held marketing and consultative sales roles in real estate and hospitality.

    LinkedIn profile »