About

950
FUNDS DEPLOYED ON SYSTEM

thenumbers
don’tLIE

20%
OF TOP ADMINISTRATORS USING
100%
SATISIFIED CUSTOMERS
6
SECONDS TO CLOSE A PERIOD
3
WEEKS AVERAGE IMPLEMENTATION

4 OUT OF 10 OF THE WORLD’S LARGEST FUNDS ARE ON PENNY.

We only do ONE thing…

We build back-office fund accounting systems. That’s it. Why? Because doing it right is hard. We know. We’ve done it for over two decades.

Investment fund accounting for partners and shareholders is definitely NOT something you want to do with a spreadsheet (or with an after-thought adjunct to a trading system).

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

As a specialized partnership and shareholder fund accounting solution, the Penny® 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.

The system plugs seamlessly into your infrastructure, and has been carefully crafted for ease-of-use and painless implementation.

Penny® is designed and developed by TKS Solutions. TKS was founded in 2007, and is a registered Microsoft Partner.

…but we do it incredibly WELL

490 billion AUM on the system
400 contributions per minute
48,000 periods processed
194,000,000 investor statements processed
123,000 investor confirmations prepared
¼ million hours of manual calculation avoided
242 years collective fund accounting experience
1.5 million lines of code
6 seconds to process a period
9,560 spreadsheets retired

WHAT OUR CLIENTS SAY

Gemini Fund Services“We look forward to working TKS Solutions, which provides highly sophisticated accounting software for financial companies, to deliver value-added solutions to our clients.”
Strata Fund Solutions“During our rigorous assessment process, we found that Penny – It Works® handled a wide variety of real-life scenarios. The system is easy to use and easy to initialize.”
Tiedemann Wealth Management“Penny® is great at what it does. We have surveyed the market and not found a better suite of products.”
Ramius“Penny intuitively automates key shareholder accounting tasks. It plays a key role in our overall infrastructure.”

A TEAM WITH DEEP EXPERTISE IN FUND ACCOUNTING

  • Art Shulman
    Art ShulmanCEO

    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.

  • Ron Kashden
    Ron KashdenFounder

    Ron leads the company’s 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.

  • Gene Barra
    Gene BarraMg. Dir. Business Development

    Gene started in Price Waterhouse’s tax practice, and has over 25 years of experience working with hedge funds and alternative investments.

    He headed business development for HedgeWare / SS&C, and worked with VPM and Morgan Stanley Fund Services. Gene holds a BBA in Accounting and a BA in English from the University of Notre Dame.

  • Sue Walsh
    Sue WalshMg. Dir. 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.

  • Chris Wallin
    Chris WallinLead Developer & Architect

    Chris has 15 years of experience in financial accounting technology, system design and technology management.

    He managed development at SS&C Technologies and led development at Morgan Stanley Fund Services. Chris has a BS in Computer Science from Manhattan College and an MBA from NYU’s Stern School of Business.

  • Mike Murphy
    Mike MurphyMg. Dir. Custom Services

    Mike has 20 years of experience in financial services, with a focus on fund operations in the alternative space.

    Previously, Mike was a key man on a number of engagements for Beacon Consulting Group, a leading financial services consulting firm. He holds a BA in Economics from St. Michael’s College and an MBA from Boston College.

  • TKS Office
    TKS OfficeMt. Kisco HQ
  • Amy Esposito
    Amy EspositoHead of Quality Assurance
  • Stephanie Lyons
    Stephanie LyonsClient relations
  • Hard at work
    Hard at work
  • Heather Kupp
    Heather Kuppimplementation
  • Conference Room
    Conference Room
  • Dan Challis developer
    Dan Challis developerhard at work
  • Desk Toys
    Desk ToysBecause all work and no play...

HOW IT STARTED

THE PENNY ORIGIN STORY