Nasdaq has acquired Solovis, a privately-held financial technology company offering multi-asset class portfolio management, analytics and reporting tools across public and private markets. Solovis solutions will be available through Nasdaq’s eVestment group and broaden eVestment’s capabilities with portfolio analysis and monitoring for institutional investors and consultants.
“Nasdaq’s mission is to provide transparency and data to the financial world, all through modern technology,” says Lauren Dillard, Executive Vice President and head of Nasdaq’s Global information Services Group. “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 gives sophisticated investors a unified line of sight into their portfolios, performance and risk across asset classes. For the 600-plus institutional investors that rely on eVestment today for manager screening, Solovis provides complementary power for ongoing portfolio management.
“Combined, we bring tremendous decision-making power to our investor clients, pre- and post-investment, across public and private markets,” says eVestment co-head Jerrod Stoller.
“We founded Solovis on the commitment to help asset allocators make better investment decisions through robust data and analytics,” says Solovis co-founder and CEO Josh Smith. “Our mission aligns seamlessly with eVestment’s and makes us well-positioned to capture the opportunities inherent in the evolving global markets landscape. We are excited to join the Nasdaq family through this acquisition.”
Solovis co-founders 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 have not been disclosed, but this investment is consistent with both Nasdaq’s strategy to maximise opportunities as a technology and analytics provider to capital markets, as well as its capital deployment and return on investment capital objectives.