Aquiline, a private equity firm investing in financial services, has acquired a majority of financial data manager BI-SAM Technologies shares.
BI-SAM, which provides data management, performance, attribution and risk reporting for Tier I asset managers in Europe, North America and Asia, was founded in 2000 by three experienced asset managers. Following the acquisition deal, the company is hoping to expand further globally and to materially increase the size of its workforce over the next three years, according to a statement.
The deal highlights Aquilines strategy, which is to add value to its diverse set of portfolio companies, which include property and casualty insurance, banking, securities, asset management, life insurance and financial technology.
BI-SAMs success is a reflection of the quality of our team and our B-One platform. This platform has enabled asset managers all over the world to adapt to evolving regulation, reduce risk and operational costs, measure and analyze portfolio performance, and enhance their client communication, says Alexandre Harkous, CEO and one of the founders of BI-SAM. With Aquilines support, we now have the proper resources to drive our strategic plan forward and to grow both organically and through acquisition while delivering the best solutions and services to our customers.
We chose to invest in BI-SAM in partnership with the management team because of its strong competitive position, high growth potential, and its clear vision for the future, says Jeff Greenberg, chief executive of Aquiline. BI-SAMs unique, full-service offering allows asset managers to improve their operations and better service investors by increasing their efficiency and transparency, and we look forward to supporting the continued growth and expansion of the business.
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