Fintech PR
Clearwater Analytics to Partner with Wilshire and Acquire Sophisticated Risk and Performance Models
Partnership to Benefit Clients of Both Companies and Dramatically Enhance Offering for the Risk and Performance Needs of Front and Middle Office Clients
BOISE, Idaho and SANTA MONICA, Calif., April 2, 2024 /PRNewswire/ — Clearwater Analytics (NYSE: CWAN), a leading provider of SaaS-based investment management, accounting, reporting, and analytics solutions, today announced that it has entered into a definitive agreement to acquire risk and performance analytics solutions from Wilshire Advisors LLC, a leading global financial services firm. Specifically, Clearwater will acquire Wilshire AxiomSM, Wilshire AtlasSM, Wilshire Abacus, and Wilshire iQComposite, which provide fixed income analytics, equity analytics and performance measurement, accounting, and GIPS® compliance support analytics, respectively, and will merge them with its own risk and performance analytics platform to create a powerful and compelling product for its customers.
The partnership, which will be co-branded as Clearwater Wilshire Analytics, will allow both companies to provide enhanced analytical capabilities for investment managers and institutional asset owners such as public pension plans, insurers, foundations, endowments and more. Partnering with Wilshire, Clearwater will be able to deepen and strengthen its position in the institutional asset owner market. The transaction is expected to close in the second quarter of 2024, subject to customary closing conditions.
The new Clearwater Wilshire Analytics platform will help clients calculate performance and risk attribution, assist with security-level portfolio construction, uncover new strategies, access high-quality portfolio models, and identify investment opportunities that maximize returns and mitigate risk. As a result, investment teams will be able to significantly improve client satisfaction and drive faster growth of assets under management compared to the market.
Wilshire’s industry-leading analytics have a long history of excellence and adoption from clients worldwide. These highly sophisticated, widely adopted and proven models have helped clients strengthen their portfolios across various market conditions and have stood the test of time. Clearwater expects to invest in building out a modern front-end, broaden coverage of asset classes, and enhance Wilshire’s current offerings with the capabilities of its own platform, helping to make Clearwater a leading provider of comprehensive and powerful risk and performance solutions, and benefiting clients of both organizations. Wilshire will continue to focus its strategic growth on its core retirement and wealth, alternatives, and institutional business lines. Following the close, Wilshire will continue to have access to the analytics software to support its clients.
“The strategic acquisition of Wilshire’s AxiomSM, AtlasSM, Abacus, and iQComposite products marks a significant milestone for Clearwater, positioning us to supercharge our clients’ risk and performance capabilities across their front and middle office functions, while perfectly aligning with the long-term needs of our clients across the entire investment lifecycle,” said Sandeep Sahai, CEO at Clearwater Analytics. “Wilshire’s powerful IP in combination with Clearwater’s comprehensive, trusted foundational platform delivers tremendous benefits to our clients and sets a new standard in the industry. Together, we’re incredibly excited to expand into high-growth markets with a best-in-class investment management solution that will accelerate the way our clients grow their business.”
“Our team has built a robust, time-tested suite of solutions that delivers actionable insights and continues to represent the gold standard in the industry,” said Andy Stewart, CEO at Wilshire. “Clearwater is the ideal steward to expand the business, invest in these capabilities, and accelerate the growth of these analytic tools to serve a wide range of clients.”
“This collaboration was made possible by the contributions, expertise and passion of our analytics team,” said Jason Schwarz, Deputy CEO at Wilshire. “The combined Clearwater Wilshire Analytics platform will help improve investment outcomes for existing clients as well as reach potential new clients in markets that have historically not had access to our capabilities.”
Clearwater expects to pay roughly $40 million for Wilshire’s assets while adding approximately $7 million in annualized revenue.
About Wilshire
Wilshire is a leading global financial services firm and trusted partner to a diverse range of approximately 500 leading institutional investors and financial intermediaries. Our clients rely on us to improve investment outcomes for a better future. Wilshire advises on over $1.3 trillion in assets and manages over $100 billion in assets as of December 31, 2023. Wilshire is headquartered in the United States with offices worldwide. More information on Wilshire can be found at www.wilshire.com.
About Clearwater Analytics
Clearwater Analytics (NYSE: CWAN), a global, industry-leading SaaS solution, automates the entire investment lifecycle. With a single instance, multi-tenant architecture, Clearwater offers award-winning investment portfolio planning, performance reporting, data aggregation, reconciliation, accounting, compliance, risk, and order management. Each day, leading insurers, asset managers, corporations, and governments use Clearwater’s trusted data to drive efficient, scalable investing on more than $7.3 trillion in assets spanning traditional and alternative asset types. Additional information about Clearwater can be found at clearwateranalytics.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management’s beliefs and assumptions and on information currently available to management. Forward-looking statements include information concerning the following factors in reference to Clearwater and/or the assets to be acquired: possible or assumed future results of operations, possible or assumed performance, business strategies, technology developments, financing and investment plans, dividend policy, competitive position, industry, economic and regulatory environment, potential growth opportunities and the effects of competition. Forward-looking statements include statements that are not historical facts and can be identified by terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “aim,” “may,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “will,” “would” or similar expressions and the negatives of those terms, but are not the exclusive means of identifying such statements.
Forward-looking statements involve known and unknown risks, uncertainties, and other factors, many of which are beyond Clearwater’s control, that may cause Clearwater’s actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks and uncertainties include, but are not limited to, Clearwater’s ability to successfully integrate the operations and technology of the assets to be acquired with those of Clearwater, retain and incentivize the employees related to the assets to be acquired following the close of the acquisition, retain the clients to be acquired and successfully close the acquisition of the assets to be acquired, as well as other risks and uncertainties discussed under “Risk Factors” in Clearwater’s Annual Report on Form 10-K for the year ended December 31, 2023 filed with the US Securities and Exchange Commission (the “SEC”) on February 29, 2024, and in other periodic reports filed by Clearwater with the SEC. These filings are available at www.sec.gov and on Clearwater’s website. Given these uncertainties, you should not place undue reliance on forward-looking statements. Also, forward-looking statements represent management’s beliefs and assumptions only as of the date of this press release and should not be relied upon as representing Clearwater’s expectations or beliefs as of any date subsequent to the time they are made. Clearwater does not undertake to and specifically declines any obligation to update any forward-looking statements that may be made from time to time by or on behalf of Clearwater.
Logo – https://mma.prnewswire.com/media/1502063/4624368/Clearwater_Analytics_v3_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/clearwater-analytics-to-partner-with-wilshire-and-acquire-sophisticated-risk-and-performance-models-302105506.html
MIAMI, Dec. 5, 2024 /PRNewswire/ — H.I.G. Bayside Capital, the special situations credit affiliate of H.I.G. Capital (“H.I.G.” or the “Firm”), a leading global alternative investment firm with $66 billion of capital under management, is pleased to announce the final closing of H.I.G. Bayside Loan Opportunity Fund VII (the “Fund”). The Fund closed with $1 billion of aggregate capital commitments and continues the Firm’s successful strategy of investing in special situation credit opportunities in the European middle market.
Established in 2006, H.I.G. Bayside’s European strategy invests primarily in senior secured European stressed and special situations credit, targeting equity-like returns. The Fund’s disciplined approach to portfolio construction and deal selection has consistently resulted in higher returns and a lower level of volatility relative to comparable credit indices. The Fund’s predecessor, H.I.G. Bayside Loan Opportunity Fund V, was named “Best Performing Debt Fund” by Private Equity Wire/Bloomberg in 2022.1
Sami Mnaymneh and Tony Tamer, H.I.G. Co-Founders and Co-Executive Chairmen, commented: “H.I.G. is one of the largest and most active credit investors dedicated to the middle markets. The H.I.G. Bayside Europe team benefits from our highly synergistic platform across the U.S., European, and Latin American middle markets, as evidenced by the risk-adjusted returns the Firm has generated over multiple cycles.”
Andrew Scotland and Duncan Priston, H.I.G. Bayside Europe Fund Co-Heads, commented: “We are very pleased to have fresh capital to deploy into one of the most compelling market environments for special situations credit investing where a significant number of levered European businesses are facing challenges. Our team is well positioned to capitalize on the investment opportunities available.”
Jordan Peer Griffin, Executive Managing Director and Global Head of Capital Formation, added, “We aim to provide limited partners with a full spectrum of investment opportunities across private equity, credit, and real assets in the middle market. Limited partner backing of the Fund demonstrates strong interest in the middle market and conviction in H.I.G.’s differentiated approach. We are thankful for the strong support the Fund received from a diverse and global investor base in North America, Europe, Asia, and the Middle East, including public and private sector pensions, endowments, foundations, asset managers, consultants, fund of funds, financial institutions, and family offices.”
|
1 H.I.G. Bayside Loan Opportunity Fund V was named “Best Performing Debt Fund Over $1.5B” by Private Equity Wire/Bloomberg in November 2022. |
About Bayside Capital
Bayside Capital is the special situations affiliate of H.I.G. Capital. Focused on middle market companies, Bayside invests across several segments of the primary and secondary debt capital markets with an emphasis on long term returns. With eight offices throughout the U.S. and Europe and over 500 investment professionals to draw upon, Bayside has the experience, resources, and flexibility required to generate superior risk-adjusted returns. For more information, please refer to the Bayside website at bayside.com.
About H.I.G. Capital
H.I.G. is a leading global alternative investment firm with $66 billion of capital under management.* Based in Miami, and with offices in Atlanta, Boston, Chicago, Los Angeles, New York, and San Francisco in the United States, as well as international affiliate offices in Hamburg, London, Luxembourg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro, São Paulo, Dubai, and Hong Kong, H.I.G. specializes in providing both debt and equity capital to mid-sized companies, utilizing a flexible and operationally focused/value-added approach:
- H.I.G.’s equity funds invest in management buyouts, recapitalizations, and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
- H.I.G.’s debt funds invest in senior, unitranche, and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. also manages a publicly traded BDC, WhiteHorse Finance.
- H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
- H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.
Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The Firm’s current portfolio includes more than 100 companies with combined sales in excess of $53 billion. For more information, please refer to the H.I.G. website at hig.com.
|
*Based on total capital raised by H.I.G. Capital and affiliates. |
Contacts:
Jordan Peer Griffin
Executive Managing Director
[email protected]
Duncan Priston
Co-Head of Bayside Europe
[email protected]
Andrew Scotland
Co-Head of Bayside Europe
[email protected]
H.I.G. Capital
1450 Brickell Avenue
31st Floor
Miami, FL 33131
P: 305.379.2322
hig.com
Logo – https://mma.prnewswire.com/media/2554501/Bayside_Capital_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/hig-capital-closes-1-billion-bayside-loan-opportunity-fund-vii-302323237.html
WINDSOR, Conn., Dec. 5, 2024 /PRNewswire/ — SS&C Technologies Holdings, Inc. (Nasdaq: SSNC), a global provider of software and software-enabled services for the financial services and healthcare industries, today announced that Bill Stone, Chairman and CEO, will present at Abu Dhabi Finance Week. The event, which takes place on Al Maryah Island in Abu Dhabi Dec. 9-12, is expected to draw more than 18,000 finance professionals from more than 100 countries.
Bill Stone will join Aron Landy, CEO of Brevan Howard, and Leda Braga, CEO of Systematica Investments, on the “Inside the Hedge Fund Industry” panel on Dec. 10 at 10:40 a.m. Dan Murphy, CNBC anchor and correspondent, will moderate.
A recording of the panel will be made available by the organizers after the event.
About SS&C Technologies
SS&C is a global provider of services and software for the financial services and healthcare industries. Founded in 1986, SS&C is headquartered in Windsor, Connecticut, and has offices around the world. Some 20,000 financial services and healthcare organizations, from the world’s largest companies to small and mid-market firms, rely on SS&C for expertise, scale, and technology.
Additional information about SS&C (Nasdaq: SSNC) is available at www.ssctech.com. Follow SS&C on Twitter, Linkedin and Facebook.
Logo – https://mma.prnewswire.com/media/692536/SSC_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/ssc-to-present-at-abu-dhabi-finance-week-302323426.html
Fintech PR
Vantage Markets celebrates Copy Trading success with viral video campaign, featuring duets by top influencers from India and Vietnam
PORT VILA, Vanuatu, Dec. 5, 2024 /PRNewswire/ — In celebration of 15 years of empowering traders, Vantage Markets (“Vantage”) is thrilled to announce the resounding success of its latest copy trading video campaign, Join the Move, Mirror the Trade. The campaign, creatively blending dance and copy trading, has taken social media by storm with top influencers from India and Vietnam enthusiastically dueting with the video and amplifying its reach across the region.
With each influencer’s unique dance style syncing seamlessly with the video’s playful choreography, Join the Move, Mirror the Trade has achieved a widespread impact, inspiring a new wave of traders to explore the possibilities of copy trading. Featuring influencers such as Nguyen Pham from Vietnam and R Raj Sharma from India, the video campaign has created a vibrant, accessible way for new traders to learn about copy trading. This surge of influencer participation has helped Vantage spark a meaningful dialogue about financial empowerment, connecting with the next generation of traders in a fresh, dynamic way.
Join the Move, Mirror the Trade: Making Trading Accessible for All
At the heart of Vantage’s campaign is its Copy Trading feature, which allows users to mirror the strategies of experienced traders through an intuitive, user-friendly interface. This approach empowers new traders to build confidence and learn from seasoned experts in a simplified format – much like following dance moves in a duet. Through expanded multi-currency support, multi-account compatibility, and a low minimum deposit of $50, Vantage ensures that copy trading is within reach for traders of all levels.
Marc Despallieres, Chief Strategy and Trading Officer at Vantage Markets, commented, “Over the last 15 years, our commitment to trading excellence and innovation has only strengthened. The success of this campaign underscores our mission to empower and inspire the new generation of traders. Join the Move, Mirror the Trade truly captures the spirit of learning through connection, and we are thrilled to see how influencers and their audiences have embraced it.”
A Celebration of 15 Years of Innovation
This campaign marks an important milestone in Vantage’s 15-year journey of advancing financial inclusion and innovation in trading. Vantage’s vision of trading excellence continues to resonate globally, with this video campaign as a testament to its powerful, positive impact on a new generation of traders.
Watch the viral video and join the movement here.
About Vantage
Vantage Markets (or Vantage) is a multi-asset CFD broker offering clients access to a nimble and powerful service for trading Contracts for Difference (CFDs) products, including Forex, Commodities, Indices, Shares, ETFs, and Bonds.
With over 15 years of market experience, Vantage transcends the role of broker, providing a trusted trading ecosystem, an award-winning mobile trading app, and a user-friendly trading platform that empowers clients to seize trading opportunities. Download the Vantage App on App Store or Google Play.
trade smarter @vantage
RISK WARNING: CFD trading carries significant risks. You could lose more than your initial investment.
Video – https://www.youtube.com/watch?v=WPuXHY1e1pY
Logo – https://mma.prnewswire.com/media/2506103/Vantage_15_Logo_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/vantage-markets-celebrates-copy-trading-success-with-viral-video-campaign-featuring-duets-by-top-influencers-from-india-and-vietnam-302323652.html
-
Fintech3 days agoFintech Pulse: Your Daily Industry Brief (PayPal, Apple Pay, Google Wallet, Introspective Market Research, Deel, Kingdom Advisors, Basta Pay)
-
Fintech6 days agoBanking and Capital Markets: Navigating a Complex Future
-
Fintech PR6 days agoNoble Corporation plc announces changes to its share capital including share repurchases for the month of November 2024
-
Fintech PR7 days agoYunoJuno Recognised as Best International Contractor Provider, Revolutionising Global Freelance Management
-
Fintech2 days agoFintech Pulse: Your Daily Industry Brief (21X, 9fin, Upstart, LendingClub, Cloudflare)
-
Fintech15 hours agoFintech Pulse: Your Daily Industry Brief (Axos Bank, Global Trading Network, Fonepay, Compass Plus Technologies, Instacoins)
-
Fintech PR5 days agoADGM’s Asset Management Sector Leads Exponential Growth in Third Quarter of 2024
-
Fintech PR6 days agoABC TECHNOLOGIES ANNOUNCES RECOMMENDED OFFER TO ACQUIRE TI FLUID SYSTEMS