eVestment expands with two new takeovers 14 November 2012Georgia Reporter: Jenna Jones
Image: Shutterstock
In a bid to expand expertise, scale and capabilities and offer improved portfolio solutions across asset classes that are available to institutional investors, eVestment has acquired PerTrac and Fundspire.
The double purchase sees eVestment acquire PerTrac, a hedge fund analysis software and workflow solutions provider, and Fundspire, a cloud-based technology provider of hedge fund analytics.
Jim Minnick, co-founder and CEO of eVestment, said: “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.”
“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.”
The terms of the deal were not disclosed.
In 2011, the firm made a commitment to the alternatives space with the purchase of Channel Capital Group, which owns HedgeFund.net, a hedge fund data, research and news company.
This acquisition enabled eVestment to provide a single, global database serving institutional investment professionals who focus on either alternative or traditional investments, as well as 'hybrid' investors who seek solutions to help them select and manage investments across both investment categories.
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one asset servicing news source this
year, make sure it is your free subscription to Asset Servicing Times
Image: Shutterstock 