Hedge fund group Citadel Investment has bought Asset Control’s AC Plus data management platform. Asset Control says the investment includes enhancements co-developed by the two firms.
“We are delighted to have met Citadel’s demanding requirements in this first round of co-development work, ” says Ger Rosenkamp, CEO of Asset Control. “As a result of this collaboration, AC Plus now has added speed and scalability, as well as new features to expedite implementation and simplify administration of centralized data platforms.”
Enhancements to the AC Plus platform include data model extension, streamlining of the reference data model to speed queries and reduce administrative overhead, and increased speed of data loading. Asset Control says the enhancements have attracted interest in the Asset Control customer base, and several firms are currently scheduling implementation of these new features.