SunGard has acquired Advanced Portfolio Technologies (APT), a New York-based provider of risk management and portfolio optimisation software to asset managers, hedge funds, pension funds, broker/dealers and proprietary traders.
Financial terms of the acquisition were not disclosed.
Founded in 1985 APT provides multi-factor risk models, portfolio analysis and optimisation tools and risk management software.
Key offerings include the firm's flagship multi-asset global risk model, as well as software for exploratory portfolio analysis, scenario analysis and portfolio optimisation.
APT's risk model subscription service includes risk profiles for over 275,000 equities, bonds and currencies plus mutual, hedge and REIT funds, commodities and other securities.
SunGard says the unit will become part of its alternative investments business. APT chief operating officer Jamie Ridyard will continue to manage the operation.
Commenting on the deal, Emanuel Mond, president of SunGard's alternative investments business, says: "Products like those offered by APT that come preloaded with data, available on many platforms and with short deployment times, are especially attractive to customers. The acquisition of APT helps enhance our alternative investments business, offering our customers one of the widest choices of core functionality."