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Addepar acquires AltX to double down on high-growth alternatives market

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Addepar has acquired AltX, an intelligence platform for the alternative investments market.

The acquisition deepens Addepar’s capabilities in alternative investments – which comprise USD120 billion of the USD600-plus billion of assets on Addepar’s platform.
With AltX, Addepar advances its mission to empower wealth advisers and asset owners to make more informed, data-driven investment decisions.
Alternative investments, including hedge funds, private equity, venture capital and real estate, have exploded in popularity, growing from USD2.5 trillion in 2004 to a projected USD13.6 trillion by 2020. Despite this growth, wealth advisers have struggled to provide an adequate level of information on performance, risk and liquidity to their clients.
AltX’s machine learning technology enriches the data that describes alternative investments, and incorporates related reference data, public filings and news. Using advanced data science techniques and proprietary algorithms, the technology identifies and normalises both structured and unstructured data that correspond to each alternative investment, and uses the smart matching engine to associate it with a rich content database. This database consists of performance, holdings and key reference data for more than 17,000 funds.
“Addepar gives wealth advisors the technology, data and services they need to deliver tailored and comprehensive solutions to each of their clients,” says Eric Poirier, CEO of Addepar. “AltX’s team has built awesome technology for alternatives, and it perfectly complements Addepar’s solutions for family offices, RIAs, private banks, wirehouses and large allocators. This acquisition means that we offer more transparency into the alternatives portion of investment portfolios. It propels Addepar forward in building a unified data model and common language to power the financial system.”
“Addepar and AltX share a commitment to giving investors ultimate transparency into their alternative investment portfolio,” says Sam Hocking (pictured), founder and CEO of AltX. “We’re eager to invent the future with Addepar’s incredibly talented team, with the next step of giving our clients — some of the world’s leading asset managers, asset allocators and banks — the most comprehensive solution in this huge and historically opaque asset class.”

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