Wednesday, 4 March 2015
Last updated 9 hours ago
Nov 14 2012 | 10:59am ET
Institutional investors are increasingly demanding comprehensive, integrated tools and data to handle their growing alternative investment allocations, eVestment says. And the institutional data provider has just gone a long way towards providing it.
Atlanta-based eVestment said yesterday that it had bought two well-known hedge fund-focused technology companies, Fundspire and PerTrac. The former provides cloud-based hedge fund analytics and the latter hedge fund analysis software and workflow solutions.
“Over the past several years, we have seen increasing movement towards a more hybrid model of investing, where alternative and traditional investments stand on equal footing,” Jim Minnick, co-founder and CEO of eVestment, said. “The united company allows us to broaden our footprint in this increasingly combined and singular marketplace, while maintaining our commitments to provide market-leading software and data solutions to both the traditional and alternative investment communities around the world with outstanding client service.”
Terms of the deal were not disclosed, but it leaves eVestment, which last year bought HedgeFund.net parent company Channel Capital Group, with some 2,500 clients and 250 employees around the world. eVestment said detailed integration plans will be developed over the next 90 days.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…