Confluence Technologies, Inc., a U.S.-based software and data solutions provider to the investment management industry, has signed a definitive agreement for Clearlake Capital Group, L.P. to acquire the company from TA Associates. Upon closing of the transaction, Clearlake will become the majority shareholder while TA will retain a minority equity stake. Founded in 1991, Confluence…
Year: 2021
TA buys minority stake in Apex
TA Associates, a global growth private equity firm, has taken a significant minority investment in Apex Group Ltd. Apex is majority-owned by Genstar Capital, a private equity firm. Apex recently passed the USD1trn mark in AuA.
Northern Trust passes USD1trn in DC assets
Northern Trust reports that its defined contribution (DC) global assets under custody and administration have exceeded USD1trn. Northern Trust has >140 global DC clients, with >USD1.4trn of assets. Clients include 12 of the 50 largest U.S. defined contribution plans as measured by total assets, as well as plans in Australia, the UK, and additional countries…
Clessidra appoints SGSS as depositary for new PE fund
SGSS has been appointed by Clessidra Private Equity SGR, an Italian private equity fund manager, to provide depositary bank services for its new reserved closed-end alternative investment fund, Clessidra Capital Partners 4.
Northern Trust adopts 3D platform for distribution oversight
Northern Trust has entered into an agreement with Distributor Due Diligence (3D) to support its asset manager clients with oversight of distribution of their funds to investors. The service, Network Monitor, will make 3D’s platform service available to clients to support their regulatory responsibilities for performing due diligence of their distributor networks.
Key Private Bank consolidates with Charles River
Key Private Bank, the wealth management division of U.S.-based KeyCorp, has consolidated its portfolio management functions on the Charles River Wealth Management Solution. Key Private Bank has also upgraded its use of the platform, adopting compliance, data services, IBOR, and performance measurement and attribution capabilities.
Alter Domus acquires Beechbrook’s AIFM in Ireland
Alter Domus, the Luxembourg-based provider of services for the alternative investment industry, has launched AIFM and depositary services in Ireland. The launch follows approval by the Central Bank of Ireland for the acquisition of Beechbrook Capital’s Irish AIFM, and authorisation for Alter Domus’ depositary services.
Citi supports Dimensional’s USD29bn mutual fund conversion to ETFs
Citi has successfully supported the industry’s largest mutual fund to ETF conversion for Dimensional Fund Advisors. The conversion includes four US tax-managed mutual funds into active transparent ETFs with USD29bn in assets. The ETFs are listed on NYSE. Gerard O’Reilly, co-CEO and CIO of Dimensional Fund Advisors, said: “Citi has been a long-standing service provider…
Euroclear appoints Citi veteran as new chairman
Euroclear has appointed Francesco Vanni d’Archirafi as chairman of the Euroclear group boards, subject to shareholder approval. He joins Euroclear from Citi, where he was vice chairman of banking, capital markets and advisory for EMEA. In his 38-year Citi career, Vanni has been CEO of Citi Transaction Services, and Citi Holdings, where he managed the…
Northern Trust extends Swiss presence with Depotbank licence
Northern Trust has received regulatory approval to offer local custodian, depositary, transfer agency and ancillary services to institutional investors and managers in Switzerland. Northern Trust has more than 30 years of experience in providing an extensive range of asset servicing and investment solutions to Swiss clients, and in 2017 established its presence in Basel, following…