State Street acquires Mercatus as part of private market solutions launch


State Street has agreed to acquire Mercatus, a solutions and data management provider for private market managers with over $1 trillion in invested capital.
The transaction, which was set to be completed in September, would subsequently see State Street launch its solution to private markets State Street Alpha for institutional investors.
This would allow them to manage the lifecycle of their infrastructure, private equity, real estate, private debt and fund of fund investments through a single platform. It would also give them more visibility into asset and fund level data, better transparency and improved client service levels.
Paul Fleming, executive vice president and global head of State Street’s alternatives segment, said: “Institutional investors are turning to the private markets as the hunt for alpha intensifies. Expanding our alternative offerings will help us meet the multi-faceted needs of these investors and provide our clients with even more solutions”.
"Investors in both public and private markets are realising the risk and inefficiencies created across their bespoke front, middle, and back-office solutions," said Haresh Patel, chief executive of Mercatus.
"We are excited to join forces with State Street and Charles River Development to achieve a new one office vision and deliver a fully integrated front to back; public to private; technology, data, and services offering all under one platform."
Recommended for you
A financial advice firm has been penalised $11 million in the Federal Court for providing ‘cookie cutter advice’ to its clients and breaching conflicted remuneration rules.
Insignia Financial has experienced total quarterly net outflows of $1.8 billion as a result of client rebalancing, while its multi-asset flows halved from the prior quarter.
Prime Financial is looking to shed its “sleeping giant” reputation with larger M&A transactions going forward, having agreed to acquire research firm Lincoln Indicators.
An affiliate of Pinnacle Investment Management has expanded its reach with a London office as the fund manager seeks to grow its overseas distribution into the UK and Europe.