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Alternative Market Briefing

Nasdaq acquires institutional investment fintech firm Solovis

Tuesday, March 10, 2020

Laxman Pai, Opalesque Asia:

The United States stock exchange operator Nasdaq announced the acquisition of Solovis, a provider of multi-asset class portfolio management solutions, for an undisclosed sum.

With this Nasdaq will offer Solovis' solutions through Nasdaq's eVestment group, broadening the financial market giant's in the area with 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 bolster our capabilities to serve the investment community. Together, they create a global leader of proprietary content, insights and portfolio analytics."

Solovis gives 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 complimentary 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. "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," said a press release.

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