US-based wealth data aggregation services provider Private Client Resources (PCR) has bagged a major investment from private equity firm Public Pension Capital (PPC). Financial terms of the transaction were not revealed.
PPC partner Thomas Uger commented: “We are extremely impressed by the PCR management team’s transformation of the company over the past two years.
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“Their vision of a data utility capable of powering the global digital wealth infrastructure is compelling and far reaching.”
With the infusion, PCR aims to offer liquidity to shareholders.
The capital will also be used to expand the firm’s geographic presence, develop its product offering and bolster its data sharing architecture.
PCR CEO Bob Miller said: “We are very excited about the relationship we have developed with PPC during the investment process.
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By GlobalData“Our new partners are experienced industry experts focused on working with management to build a valuable business and their investment will enable us to compete on a global scale.”
Additionally, PCR announced a range of new capabilities.
Among these are improvements to its Digital Consent engine that now covers more than 30,000 managers.
Besides, the firm can now host personal and other sensitive data on account holders in their country of domicile.
