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February 21, 2020

Credit Suisse fintech investment unit snaps up NorthPoint Technology

Credit Suisse Asset Management’s fintech investment arm NEXT Investors has purchased the product suite and technology consulting practice of NorthPoint, which offers financial software to investment managers.

The seller is governance, risk, and compliance services provider ACA Compliance Group. The deal value was not divulged.

The purchased business will serve as a wholly-owned unit of a new business intelligence company.

Dubbed Portfolio BI, the intelligence company will be led by Jeremy Siegel as the CEO.

ACA will cater to mutual clients in collaboration with Portfolio BI.

Commenting on the takeover, ACA chief innovation officer Raj Bakhru said: “The NorthPoint product suite fits well within the vision and technology offered by Portfolio BI.

“As we continue to focus on ComplianceAlpha, our regulatory technology platform, we look forward to continuing a close relationship with Portfolio BI and plan to provide exemplary service to our mutual clients.”

ACA will continue to have ownership of its regtech solutions such as ComplianceAlpha and Regulatory Reporting software.

Credit Suisse Asset Management co-head and portfolio manager of NEXT Investors Alan Freudenstein said: “NorthPoint’s comprehensive product suite – spanning order management software to portfolio management – provides a differentiated offering to a growing client base that includes hedge funds, allocators and asset managers.”

NorthPoint’s investment management suite comprises an order management system, portfolio management, data warehouse, security master as well as price master.


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