Broadridge Financial Solutions has expanded its asset management technology suite with the acquisition of ClearStructure Financial Technology, a provider of portfolio management solutions for the private debt markets.
The value of the transaction was not disclosed.
ClearStructure provides technology solutions designed to meet the diversified needs of its clients within the investment industry.
Its Sentry solution provides managers with a broad front-to-back-office functionality on a single platform across several asset types.
Broadridge said that ClearStructure’s private debt capabilities will create a differentiated solution allowing it to serve new customers in the market.
Broadridge asset management solutions head Eric Bernstein said: “ClearStructure’s component services enhance our existing multi-asset class, front-to-back office solution, providing our clients with a unique capability to access the public and private markets.
“This acquisition aligns to Broadridge’s strategy of providing a true cross-asset platform to enable asset management clients to have a single view into their entire book of business.”
Additionally, ClearStructure’s Sentry product suite is expected to complement Broadridge’s SaaS technology that provides complete front-to-back, multi-asset class solution for hedge funds, traditional asset managers and fund administrators to enhance firm trading and operations.
ClearStructure CEO Scott Turley said: “We’re delighted to join Broadridge and to offer expanded portfolio management technology to create optimum investment workflow efficiency for portfolio managers, investment analysts, risk professionals, and operations teams.”
The deal follows Broadridge’s recent acquisition of Fi360, a provider of fiduciary software for financial advisers and intermediaries.