Broadridge Financial Solutions has acquired a number of private fund regulatory reporting capabilities from PivotData and its partner, Sol Hedge.
PivotData is a data warehouse and compliance reporting solutions platform for the investment community.
Broadridge will leverage PivotData and Sol Hedge’s capabilities to help private fund asset managers meet their regulatory reporting requirements.
According to Broadridge, these regulatory reporting capabilities will complement its existing reporting solutions, helping clients gather appropriate data, calculate what information is needed from a submission perspective, and submit data to the appropriate authorities.
PivotData and Sol Hedge’s capabilities include proprietary data transformation, normalisation and load processes as well as in-house compliance experience.
Eric Bernstein, Broadridge’s head of asset management solutions, said: “This acquisition is a natural addition to our rapidly expanding technology and services platform for asset managers.”
He added: “Regulatory reporting is a notorious struggle across the asset management industry, and PivotData and Sol Hedge’s industry expertise will help our current and prospective Broadridge clients meet their current requirements and be ready for what’s next.”
Kelli Brown, head of global product development at Sol Hedge, commented: “Our application was custom-built to excel at regulatory reporting and we look forward to scaling with the help of Broadridge’s deep product expertise and worldwide reach.”