Nasdaq Buys Institutional Investment Fintech Firm Solovis
Solovis will pair with eVestment to deliver investment data, portfolio analytics and monitoring across public and private markets
ATLANTA, March 09, 2020 (GLOBE NEWSWIRE) — Nasdaq, Inc. (Nasdaq: NDAQ) announced today the acquisition of Solovis, a privately-held financial technology company offering multi-asset class portfolio management, analytics and reporting tools across public and private markets. Solovis solutions will be available through Nasdaq’s eVestment group and broaden eVestment’s capabilities with portfolio analysis and monitoring for institutional investors and consultants.
“Nasdaq’s mission is to provide transparency and data to the financial world, all through modern technology,” said Lauren Dillard, Executive Vice President and head of Nasdaq’s Global information Services Group. “The combination of eVestment and Solovis bolsters our capabilities to serve the investment community. Together, they create a global leader of proprietary content, insights and portfolio analytics.”
Solovis gives sophisticated investors a unified line of sight into their portfolios, performance and risk across asset classes. For the 600+ institutional investors that rely on eVestment today for manager screening, Solovis provides complementary power for ongoing portfolio management.
“Combined, we bring tremendous decision-making power to our investor clients, pre- and post-investment, across public and private markets,” said eVestment co-head Jerrod Stoller.
“We founded Solovis on the commitment to help asset allocators make better investment decisions through robust data and analytics,” said Solovis co-founder and CEO Josh Smith. “Our mission aligns seamlessly with eVestment’s and makes us well-positioned to capture the opportunities inherent in the evolving global markets landscape. We are excited to join the Nasdaq family through this acquisition.”
Solovis co-founders Smith and Caleb Doise and the rest of the company will remain in place and continue to operate out of offices in Dallas; Charlottesville, Virginia; and, San Francisco.
Terms of the deal were not disclosed, but this investment is consistent with both Nasdaq’s strategy to maximize opportunities as a technology and analytics provider to capital markets, as well as its capital deployment and return on investment capital objectives.
Nasdaq (Nasdaq: NDAQ) is a global technology company serving the capital markets and other industries. Our diverse offering of data, analytics, software and services enables clients to optimize and execute their business vision with confidence. To learn more about the company, technology solutions and career opportunities, visit us on LinkedIn, on Twitter @Nasdaq, or at www.nasdaq.com.
eVestment, a Nasdaq company, provides institutional investment data, analytics and market intelligence covering public and private markets. Asset managers and general partners reach the institutional marketplace through our platform, while institutional investors and consultants rely on eVestment for manager due diligence, selection and monitoring, as well as intensive portfolio and risk analysis. eVestment brings transparency and efficiency to the global institutional market, equipping managers, investors and consultants to make data-driven decisions, deploy their resources more productively and ultimately realize better outcomes.
Solovis is leading fintech innovation for institutional investors with a powerful cloud-based platform for multi-asset class portfolio management, reporting and analytics – uniquely designed for the limited partner community. Endowments, foundations, pensions, OCIOs and family offices leverage Solovis to transform how they collect and aggregate investment data, analyze portfolio performance, model and predict future outcomes and share meaningful portfolio insights with key stakeholders. The Solovis institutional investment management technology platform enables detailed analysis and dynamic data modeling across multiple portfolios and pools of capital for actionable, transparent insights that empower both operations and investment teams.
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