Jobs go in Superpartners restructure

There has been a round of redundancies at member administrator Superpartners, following a merger of its project delivery and information technology teams, while the industry fund-owned group “reassesses” the promised January 2010 start-date for its new administration platform.

A Superpartners spokesperson said 20 people had departed the organisation’s 1500-plus workforce this month, as a result of the project delivery and information technology teams merging into a new unit reporting to chief information officer Gary Evans.

The restructure would remove duplication of services between the two teams and result in more efficient communication and outcomes, the spokesperson said, while confirming the July resignation of project delivery chief Jane Collyer had been for personal reasons and unrelated to the restructure.

Meanwhile, the spokesperson could not give a definite start-date for Superpartners’ new administration platform, which will use Synchronised Software’s CapitalX package (with a systems integration assist from India’s Tata Consulting Services) in an attempt to replace a multitude of legacy systems at a stroke.

In announcing its ‘transformation agenda’ last December, Superpartners said it would move clients on to the new platform by January 2010, however the spokesperson said the live date was now being reassessed as the project continued to roll out. Cbus continues to be the intended first recipient of the the new platform, which is known internally as ElectSP.

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Suspensions and redemption queues ‘speed bumps’ on private credit road: Blue Owl

Asset owners are right to be concerned about private credit fund suspensions and redemption queues, Blue Owl head of alternative credit Ivan Zinn told the Investment Magazine Fiduciary Investors Symposium, but he thinks that two years from now they’ll be looked back on as nothing more than a “speed bump” on a highway of growth and strong returns.

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