Broadridge Financial Solutions has acquired a selection of private fund regulatory reporting capabilities from PivotData.
In addition to this, the firm acquired PivotData’s partner Sol Hedge, which will help it to offer private fund asset managers tools to meet reporting regulatory requirements.
These new tools will compliment Broadridge’s existing reporting solutions and help clients to gather appropriate data, calculate what information is needed from a submission perspective and submit data to the appropriate authorities.
PivotData and Sol Hedge’s data transformation, normalisation and load processes and compliance tools will provide users with a reliable and cost-effective reporting solution, the company claims.
Broadridge Financial Solutions develops a suite of technology-driven solutions for global banks, broker-dealers, asset managers and corporate issuers. Offerings include portfolio management, risk management, regulatory compliance, and workflow optimisation, among others.
Broadridge head of asset management solutions Eric Bernstein said, “This acquisition is a natural addition to our rapidly expanding technology and services platform for asset managers.
“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.”
PivotData develops data warehouse and business intelligence solutions which can be customised for each client. Its solutions are capable of using data management to improve business decisions through accurate and timely position data, and strengthen compliance reporting processes.
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