British Columbia Investment Management (BCI) has acquired a minority stake in ClearMacro, a UK-based independent investment analytics provider.
The Canadian asset manager, which had C$153.4bn ($115bn) of managed assets as of 31 March 2019, made the investment through its affiliate firms.
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Founded in 2014, ClearMacro develops tools that help asset owners and advisers to improve the portfolio impact of their asset allocation decisions.
The London-based firm analyses global asset classes and the macro environment in more than sixty countries and sectors.
ClearMacro will continue to be majority-owned by its management and staff even after this latest investment by BCI.
It will continue to be headed by Mike Simcock and the executive management team will remain unchanged.
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By GlobalDataAs part of the agreement, a representative from BCI has been given a place in the ClearMacro board.
Simcock commented: “With CM’s long-term future as an industrial-grade investment analytics provider secured, CM is poised to establish leadership in the burgeoning market for data analytics in the investment industry.
“With the capital strength of BCI behind us, we will materially complement our team, geographical presence and grow our access to additional partners and channels.
BCI vice president Total Fund Management Mihail Garchev commented: “BCI has in recent years firmly established our in-house investing capabilities across asset classes. However, we also constantly benchmark ourselves and seek to improve. To that end, we have decided to materially drive forward our abilities to import best-in-class data strategies and tools to support investment decision-making and risk management processes.
“After extensive research, we are excited to become a strategic investor in ClearMacro and look forward to supporting the company in addressing the significant opportunity in the marketplace.”
