Penny Fast Facts

  • 640 funds

    deployed on system

  • 450 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.


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


    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


    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.

    LinkedIn profile »
  • Gene Barra

    Managing Director, Business Development

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

    He headed up business development for HedgeWare/SS&C, and also 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.

    LinkedIn profile »
  • Sue Walsh

    Managing Director, 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 »
  • Chris Wallin

    Lead Developer & Architect

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

    He has managed development at SS&C Technologies and 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.

    LinkedIn profile »
  • Mike Murphy

    Managing Director, Custom Services

    Mike brings 20 years of experience in financial services with a focus on fund operations in both the retail and alternative spaces.

    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.

    LinkedIn profile »