Mon, May 17, 2021
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Credit Suisse Asset Management's NEXT Investors acquires Northpoint

Friday, February 21, 2020
Opalesque Industry Update - Credit Suisse Asset Management's NEXT Investors, a leading Fintech growth equity group, announced today the acquisition of the NorthPoint product suite and technology consulting practice from ACA Compliance Group (ACA), a leading global provider of governance, risk, and compliance advisory services and technology solutions. NorthPoint will be wholly-owned by a new business intelligence company, Portfolio BI. Jeremy Siegel will be appointed as CEO of Portfolio BI, effective immediately. ACA will retain its RegTech solutions, including ComplianceAlpha® and its Regulatory Reporting software, and ACA will partner with Portfolio BI to service mutual clients.

NorthPoint Solutions was founded in 2003 and acquired by ACA in 2014. The product suite includes mission-critical financial software and services to leading investment management firms. NorthPoint offers an Investment Management suite which includes an Order Management System (OMS), Portfolio Management, Data Warehouse, Security Master, and Price Master. NorthPoint also offers a full suite of professional services, and has provided solutions to over 150 investment managers.

Alan Freudenstein, Co-Head and Portfolio Manager of NEXT Investors at Credit Suisse Asset Management said, "We are pleased to welcome the NorthPoint team and Portfolio BI to NEXT Investors' portfolio of companies. NorthPoint's comprehensive product suite-spanning order management software to portfolio management -provides a differentiated offering to a growing client base that includes hedge funds, allocators and asset managers. We're excited about the opportunity for growth in this vertical, as financial institutions continue to embrace new technology and tools to solve their operational and client needs."

Raj Bakhru, Chief Innovation Officer at ACA said, "The NorthPoint product suite fits well within the vision and technology offered by Portfolio BI. As we continue to focus on ComplianceAlpha, our regulatory technology platform, we look forward to continuing a close relationship with Portfolio BI and plan to provide exemplary service to our mutual clients."

Jeremy Siegel, who serves as CEO of LUX Fund Technology and Solutions, a business and technology solutions provider for the alternative asset industry, will concurrently lead Portfolio BI. Jeremy brings 24 years of experience in financial services with specific expertise in supporting hedge funds globally to grow their businesses through technology, operations and institutional systems.

Credit Suisse Asset Management's NEXT Investors identifies minority growth equity investment opportunities in private technology and services companies globally where the team has domain expertise and actionable edge. The team's portfolio comprises high-growth private businesses that interact with the financial services industry across sectors including Market Structure, Financial Technology, Enterprise Software, Data Analytics and Specialty Finance.

Canaccord Genuity acted as financial adviser to ACA. Lowenstein Sandler LLP represented ACA in connection with the transaction.

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. U.S.: Hedge funds facing Biden tax threat grab toehold in Puerto Rico[more]

    From Bloomberg: With Democrats pushing for higher taxes on the richest Americans to fund President Joe Biden's infrastructure and climate initiatives, hedge fund managers are taking refuge in Puerto Rico. ExodusPoint Capital Management and Millennium Management have established subsidiaries on t

  2. SPACs: SoftBank-backed Better to go public in $7.7bn SPAC deal, Turmoil in the SPAC market, SPACs that raise a lot of money will struggle to find startups, Biotech firm Ginkgo to merge with Harry Sloan-led SPAC in $17.5 billion deal[more]

    SoftBank-backed Better to go public in $7.7bn SPAC deal From PE Insights: SoftBank Group Corp-backed Better HoldCo said on Tuesday it will go public through a merger with a blank-check firm sponsored by investment firm Novator Capital, valuing the mortgage startup at $7.7bn. As p

  3. Hedge fund Tiger Global beats out Silicon Valley VCs, invests in 110 startups so far[more]

    From Business Insider: Tiger Global, a $65 billion hedge fund, is squeezing out venture capital firms to invest in startups. The company has taken part in 110 startup financings so far in 2021, according to PitchBook. Venture capitalists say its speed and sky-high valuations lead to its success

  4. SPACs: Why the 'SPAC Mafia' hedge funds aren't worried about SEC regulation, Bill Ackman's cagey SPAC update sends shares soaring as investors dream up a mega-deal, Arqit raising $400m with a SPAC to launch quantum encryption satellites in 2023[more]

    Why the 'SPAC Mafia' hedge funds aren't worried about SEC regulation From Business Insider: After a yearlong bout of SPAC mania, the red-hot market for blank-check companies is cooling down as regulators direct their attention to it. March was a record-breaking month for special-purpose

  5. Private strategies pay off for Tiger Global, other hedge fund titans[more]

    From Institutional Investor: Hedge funds' strategies to invest in private markets have been driving returns at a number of firms this year. Third Point, Greenlight, Tiger Global, and Maverick received big boosts in the first quarter from their private investing strategies. That shouldn't be a