Asset International, a business intelligence source backed by Genstar Capital, acquired Boston-based data and research firms Market Metrics and Matrix Solutions. The seller was FactSet.
Asset International, the premier source for authentic business intelligence and actionable insight for the asset management community, today announces the acquisition of Market Metrics and Matrix Solutions from FactSet (NYSE:FDS | NASDAQ:FDS). Market Metrics and Matrix Solutions are leading data and research firms for advisor-sold investments and insurance worldwide. The acquisition expands Asset International’s deep proprietary asset management and insurance industry data sets. The acquisition also provides Asset International with a unique delivery model from C-level face-to-face meetings to the industry- leading Financial Clarity analytics platform. Following the acquisition, Asset International is now the one-stop shop for data and insights supporting product innovation, manufacturing, sales and distribution for the asset management and insurance communities, as well as providing market surveillance solutions and marketing channels for this community.
Market Metrics was founded in 1993 and is headquartered in Boston. Matrix Solutions was founded in 1985 and is headquartered in London. Both companies have a heritage of providing strategic consulting and mission-critical data sets for mutual funds, variable annuities, mortgages and life insurance. The acquisition is expected to close within 45 days. Asset International was advised by RBC Capital Markets and Willkie Farr & Gallagher LLP on the transaction.
Commenting on the acquisition, Asset International CEO Joel Mandelbaum said, ‘This acquisition is a fantastic opportunity to realize our ambition of creating the go-to supplier for the asset management community. The combination of Asset International with Market Metrics and Matrix Solutions represents an excellent fit for our clients and employees, and we are delighted to be joining forces.’
Tony Salewski, Managing Director of Genstar, said, ‘Market Metrics and Matrix Solutions have great reputations among the asset management communities in the US and UK and are very complementary to our existing business at Asset International. We expect the combination to provide strong benefits to our clients, as well as accelerating product innovation and overall client engagement. This is another major milestone in creating a dedicated enterprise to fully service the rapidly changing global investment management sector.’
About Asset International
Asset International (AI) provides critical and proprietary data, business intelligence, information services and marketing solutions to the global investment management industry. AI‘s portfolio includes investment flow data, research, analytics, editorial and events for the global asset management community, asset owners and custodians, plus TCA for 500 million trades per month. Our clients include over 1000 of the most prominent names in the asset management industry, including 83 of the world‘s 100 largest fund managers.
AI‘s recognized data brands include Strategic Insight, Investor Economics, CorporateInsights, LiquidMetrix, FWW, and Plan for Life. AI‘s portfolio of leading editorial titles includes brands such as PLANSPONSOR, PLANADVISER, Chief Investment Officer,Global Custodian, and The Trade.
The company‘s headquarters are in New York with offices in Stamford, CT; Boston; San Francisco; London; Toronto; Munich; Melbourne; Hong Kong. Asset International is backed by Genstar Capital.
About Genstar Capital
Genstar Capital is a leading private equity firm that has been actively investing in high quality companies for more than 25 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of operating executives and strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar manages funds with total capital commitments of over $5 billion and targets investments focused on selected sectors within the financial services, software, industrial technology, and healthcare industries.