Investment management software provider Portfolio BI closed the acquisition of Hentsu, a UK-based fund management technology developer backed by financial services firm Credit Suisse, yesterday, paying an undisclosed amount.
Hentsu supplies cloud software that helps hedge fund managers collaborate with each other and manage their data. It will be integrated into Portfolio BI’s portfolio and data management platform.
The company had secured an undisclosed amount from Credit Suisse’s Next Investors unit, Falconwood Corporation and Raptor Group Holdings in 2018. Portfolio BI has not disclosed details of its funding but identified Credit Suisse Next Investors as a backer.
Jeremy Siegel, Portfolio BI’s CEO, said: “The remote working environment and increased reliance on digital communication during the covid-19 pandemic is opening up the prospect for new asset management operating models in the context of a broader digitalisation of the industry.
“This acquisition empowers us to leverage Hentsu’s expertise and technology to meet our clients’ and the industries’ ever-evolving needs.”
