Nasdaq has acquired portfolio management firm Solovis, bolstering its 2017 acquisition of buy side analytics house eVestment.
For the 600+ institutional investors that rely on eVestment today for manager screening, Solovis provides a complementary suite of multi-asset class portfolio management, analytics and reporting tools.
Lauren Dillard, EVP and head of Nasdaq’s Global information Services Group, says the investment is consistent with Nasdaq’s strategy to maximize opportunities as a technology and analytics provider to capital markets:
“Nasdaq’s mission is to provide transparency and data to the financial world, all through modern technology,” she says. “The combination of eVestment and Solovis bolsters our capabilities to serve the investment community. Together, they create a global leader of proprietary content, insights and portfolio analytics.”
Solovis co-founders Josh Smith and Caleb Doise and the rest of the company will remain in place and continue to operate out of offices in Dallas; Charlottesville, Virginia; and, San Francisco.
Terms of the deal were not disclosed.