Confluence Acquires Data Solutions Provider

Confluence, a technology provider for asset managers and fund administrators, has acquired Belgium-based data solutions provider Orfival.

Orfival provides the insurance, asset management and pension industries with services covering portfolio management and analytics, performance measurement and attribution, risk and investment compliance and reporting services. The firm was founded in 1999 and has added institutional and corporate clients across Europe since then.

Now, Orfival will operate under the Confluence brand and will integrate its products and operations.

“Our technology and people are highly complementary. As a result, we do not expect any redundancy. Orfival will operate under the Confluence brand, and reporting structures will be streamlined. Though, on a day-to-day basis, the business will operate as usual,” says Mark Evans, CEO of Confluence.

With the acquisition, Confluence will leverage Orfival’s products to deepen its own analytics offerings. Specifically, Confluence’s U.S. clients will gain access to Orfival’s performance risk analytics and attribution functionality, to go along with Confluence’s existing services of risk metrics and comparative analysis against benchmarks. Confluence will also Orfival’s capabilities into Confluence’s global offerings for data-driven performance and regulatory reporting.

“When looking to grow Confluence we aimed to find businesses which have products or services that complement our existing offerings to add greater value to the global asset management industry,” says Evans. “Orfival is just that, as it brings extraordinary subject matter expertise and research capabilities as well as a deep understanding of the European market. The region is one which we have strategically targeted for business growth and this acquisition makes our European networks stronger while allowing us to market Orfival products to our existing North American network.”

“We are delighted to now be an integral part of the Confluence business success story,” says Philippe Grégoire, managing director, Orfival. “As a global and recognised name in our area of expertise, the Confluence brand is the ideal channel for Orfival to make the quality and efficiency of its products known internationally. We are looking forward to working closely with the Confluence team to provide the best possible data solutions to new and existing clients in our target markets.”

In a recent Confluence survey, 78% of asset managers said that their firm uses multiple third-party solutions to support their back-office operations, and among these firms, 76% said they would achieve higher operational efficiency through a common user interface. Thus, there’s not only a need for consolidation of systems, but for consolidation of vendors as well, Confluence’s Todd Moyer said at the time of the survey.