eVestment Buys Fundspire, PerTrac

Nov 14 2012 | 11:59am 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.


In Depth

Q&A: Fund Administration Comes To The Cloud

Jul 14 2017 | 7:23pm ET

The fund administration sector has been steadily implementing new technology, such...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Maglan Capital: Some Lessons Learned From Puerto Rico

Jul 13 2017 | 8:00pm ET

Although Maglan Capital has not been invested in Puerto Rico for more than three...

 

From the current issue of