Penny Fast Facts

  • 640 funds

    deployed on system

  • 141 billion

    under management

  • 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 easily 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 the only investor accounting software designed and built by fund accountants, and it shows.

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 ShapiroChief Executive Officer & President

  • 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, Ron Kashden may have developed the next best thing to a crystal ball.

    Svea Herbst-BaylissReuters

Management Team

  • Ron Kashden

    President

    Ron Kashden has over twenty years experience in financial services technology and accounting. Most recently, he served as CFO of Tiedemann Investment Group.

    Previously, he headed software development for SAC Capital Management and HedgeWare, Inc. Ron is a Certified Public Accountant and holds a B.S. in accounting from Lehigh University.

  • Nicole Licare

    SVP, Business Development

    Nicole has a decade of experience in the hedge fund industry. Before joining the Penny team in 2005, she served as the 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 their AdvisorWare®, HedgeWare®, and Total Return® systems.

  • John E. Kelly

    VP, Client Services

    John has a decade of experience in the software industry, the last 6 years of it in partnership accounting software. He supports client implementations.

    Prior to joining the Penny team, John was employed by SS&C Technologies and Eagle Investment Systems in client services and project management roles. He holds a B.S. in Accounting from Manhattan College.