NEW YORK, Jan. 31, 2019 /PRNewswire/ -- Broadridge
Financial Solutions, Inc. (NYSE: BR), a global Fintech leader,
today announced the acquisition of certain private fund regulatory
reporting capabilities from PivotData, LLC, a data warehouse and
compliance reporting solutions platform for the investment
community, and its partner Sol
Hedge, LLC. Broadridge will leverage their capabilities to
help private fund asset managers meet their regulatory reporting
requirements.
These regulatory reporting capabilities will complement
Broadridge's existing reporting solutions, helping clients gather
appropriate data, calculate what information is needed from a
submission perspective and submit data to the appropriate
authorities. PivotData and Sol
Hedge's proprietary data transformation, normalization and
load (ETL) processes and in-house compliance experience will
provide clients with a reliable, cost-effective and
timely regulatory reporting solution.
"This acquisition is a natural addition to our rapidly expanding
technology and services platform for asset managers," said
Eric Bernstein, Broadridge's head of
asset management solutions. "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."
"Our application was custom-built to excel at regulatory
reporting and we look forward to scaling with the help of
Broadridge's deep product expertise and worldwide reach," said
Kelli Brown, head of global product
development at Sol Hedge.
Terms of the transaction were not disclosed.
About Broadridge
Broadridge Financial Solutions, Inc.
(NYSE: BR), a $4 billion global Fintech leader and a
part of the S&P 500® Index, provides investor communications
and technology-driven solutions to banks, broker-dealers, asset
managers and corporate issuers globally. Broadridge's investor
communications, securities processing and managed services
solutions help clients reduce their capital investments in
operations infrastructure, allowing them to increase their focus on
core business activities. With over 50 years of experience,
Broadridge's infrastructure underpins proxy voting services for
over 50 percent of public companies and mutual funds globally, and
processes more than $5 trillion in
fixed income and equity trades per day. Broadridge employs
approximately 10,000 full-time associates in 18 countries. For more
information about Broadridge, please visit www.broadridge.com.
About PivotData and Sol
Hedge
PivotData, and its partner Sol Hedge, is a developer of proven Data
Warehouse and Business Intelligence (DW/BI) Solutions through a
rigorous, hands-on data governance methodology for identifying the
DW/BI needs of specific firms in the investment management
industry. PivotData understands the unique business priorities,
analytical needs, and reporting requirements that enable a Data
Warehouse project's success. Aligning the data warehouse/business
intelligence environment with a specific business' requirements
allows PivotData to create custom data management and warehouse
solutions that reduce project costs and time to market for their
DW/BI project implementations. The result is the ability to
support a range of business needs, including but not limited to:
investment decisions based on timely and accurate position data,
consistent reporting and performance data across reporting
recipients, and timely and accurate regulatory compliance
reporting.
Media contact:
Matthew
Luongo
Prosek Partners
mluongo@prosek.com
+1 646-396-0966
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content:http://www.prnewswire.com/news-releases/broadridge-expands-asset-management-solutions-with-acquisition-of-pivotdata-and-sol-hedges-private-fund-regulatory-reporting-capabilities-300786994.html
SOURCE Broadridge Financial Solutions, Inc.