Bloomberg announced a strategic partnership with, and investment in, Daphne Technologies, LLC (Daphne). As part of the partnership, Daphne will establish connectivity with Bloomberg to enable straight through data processing by which alternative asset managers can publish private markets data directly to the Bloomberg Terminal.  A Bloomberg designee will join the Daphne Board, alongside existing members from Apollo (NYSE: APO), Motive Partners and Hamilton Lane (Nasdaq: HLNE).

Daphne is an AI powered platform purpose-built for alternative asset managers to normalize and share private markets data, making the asset class more accessible to a broader range of investors. The platform serves as a direct digital bridge for data exchange between asset managers and distribution partners such as investment consultants, wealth platforms, data companies and research networks, as well as investors.

Daphne equips fundraising and Investor Relations teams at asset managers with the latest AI tools to streamline their fundraising efforts and eliminate manual work. Daphne organizes fund data in a standard product master, enabling asset managers to easily respond to due diligence inquiries and to publish updates to all of their distribution partners with a single click. Additionally, the platform provides advanced analytics, offering valuable insights into investment engagement.

In connection with this strategic partnership, Bloomberg and Daphne expect that Apollo Global Management will be the first to use Daphne to distribute select investment fund data through the Bloomberg Terminal. Furthermore, Bloomberg and Daphne will work together to align and normalize data fields for private market funds, enhancing data consistency and coverage.

Amit Gairola, CEO of Daphne, said: “The partnership with Bloomberg is a significant milestone for Daphne. Their investment is a testament to the strength of our vision and the tremendous opportunity ahead. Allowing asset managers the ability to publish their data directly to the Bloomberg Terminal will provide them with significant exposure and allow them to expand their reach.”

Bradley Foster, Head of Fixed Income & Private Markets at Bloomberg, said: “Private Markets is a strategic priority for Bloomberg and we plan to provide solutions that collectively address our clients’ priorities across both public and private markets, including helping asset managers easily expand their networks for distribution of this valuable information. Daphne’s innovative technology and normalized data will help accelerate our ambition to provide comprehensive, high-quality fund data to our customers.”

Source: Bloomberg