The newly-formed business will provide services across the full portfolio management spectrum, including construction, personalization, visualization, risk analytics order management and trading, among other solutions, according to a statement on Tuesday confirming an earlier Bloomberg News report. The transaction would create a platform used to manage more than $20 billion worth of assets, people familiar with the matter have said.
“This cash and stock deal is a transformative one for us,” Quantifeed Co-Founder and Chief Executive Officer Alex Ypsilanti said in an interview. “The combined entity creates a truly global platform, offering our clients a comprehensive set of services in portfolio management.”
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Founded by former banking executives with experience at Morgan Stanley, Bank of America Corp. and Deutsche Bank AG, Quantifeed’s technology powers wealth management platforms, according to its website. It provides institutional-facing, adviser-led and discretionary solutions to some of the biggest banks in Asia, including Singapore-based DBS Group Holdings Ltd. and Japan’s Mitsubishi UFJ Financial Group Inc.
Earlier this year, it announced a series C funding round led by HSBC’s asset management arm. Other investors include Franklin Templeton, Lun Partners and Daiwa PI Partners.
Customers of Alpima’s portfolio construction platform include banks, asset managers, wealth managers and consultants, among other firms in Europe, the Middle East and Africa and North America. Its clients include Spain’s Banco Bilbao Vizcaya Argentaria SA, Natixis SA’s asset management unit and Julius Baer Group Ltd.