Broadridge has expanded its asset management technology suite with the acquisition of ClearStructure Financial Technology, a global portfolio management solutions provider for the private debt markets.
The purchase follows the recent trend from fund managers and administrators to move into alternative and illiquid markets such as private equity, private debt, and infrastructure assets.
Broadridge stated the addition of ClearStructure’s private debt capabilities will create a ‘differentiated solution’ to enable the FinTech firm to serve new clients.
“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,” said Eric Bernstein, head of asset management solutions, Broadridge.
“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.”
The purchase is Broadridge’s sixth acquisition this year as it looks to bolster its asset management capabilities. The firm’s other acquisitions include the TD Ameritrade custody and retirement plan custody and trust business, Canadian wealth management technology provider RPM Technologies, and buy-side data warehouse PivotData.