Confluence Acquires Alternative Investment Industry Data & Reporting Solutions Leader Data Agent
September 12, 2013
Leveraging Acquisition to Solve Stringent AIFMD Transparency Reporting Challenge
(Pittsburgh, PA and Luxembourg—September 12, 2013) Confluence, the industry's leading provider of data management solutions, today announced the acquisition of Data Agent, a leading provider of alternative investment industry data management and reporting solutions. Already a proven provider of Form PF and Form CPO-PQR reporting solutions, Data Agent brings the experience and expertise to uniquely position Confluence to provide a data management and automated solution to solve the complex regulatory reporting demands of the Alternative Investment Management Fund Directive (AIFMD) as AIFMs across the globe are bracing to comply with the Directive that was transposed into national law in July of 2013.
Confluence made the announcement as the company debuts its Unity NXT™ AIFMD Transparency Reporting solution at the ALFI Global Distribution Conference 2013 in Luxembourg.
Like Confluence, Data Agent delivers value to the market by mitigating risk and ensuring data integrity. Headquartered in Berkeley, California, Data Agent has been providing data consolidation, decision-support solutions and reporting solutions to the alternative investment industry since 2003. Data Agent's deep expertise in alternative investment data management and reporting will complement Confluence's experience in data consolidation, process automation and reporting in the traditional investment management industry.
"The synergies gained by combining the resources of our two companies will enable us to deliver even more robust solutions for our clients and the industry at large to meet the demands of the evolving global fund industry," says Mark Evans, Confluence Chairman, President and Chief Executive Officer. "This strategic acquisition strengthens our ability to deliver innovative solutions as the delineation between traditional and alternative investments converges and fund industry regulatory reporting requirements continue to become more globally intensive."
The Unity NXT AIFMD Transparency Reporting solution is a technology-enabled reporting solution that will enable fund administrators and AIFMs to meet the requirements of this otherwise time-consuming reporting requirement while eliminating risks associated with manual processes and spreadsheets and ensuring data integrity.
As a proven leader delivering an innovative platform to put data first in asset management, Confluence is leading the DataTech evolution for post-trade reporting. We focus on getting the data right, then reusing it across multiple regulatory, financial, statutory, performance and investor communications deliverables for speed, efficiency and control. Eight of the top 10 global service providers license Confluence products and all of the top 10 global asset managers have business processes automated through Confluence. Headquartered in Pittsburgh, PA, Confluence serves the international fund industry with locations in Ho Chi Minh City, London and Luxembourg.