State Street acquires Mercatus as part of private market solutions launch

State-Street/institutional/acquisition/

22 July 2021
| By Laura Dew |
image
image
expand image

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."

Read more about:

AUTHOR

Recommended for you

sub-bgsidebar subscription

Never miss the latest news and developments in wealth management industry

MARKET INSIGHTS

So we are now underwriting criminal scams?...

2 months 3 weeks ago

Glad to see the back of you Steve. You made financial more expensive, not more affordable as you claim, and presided ...

2 months 3 weeks ago

Completely agree Peter. The definition of 'significant change is circumstances relevant to the scope of the advice' is s...

4 months 4 weeks ago

ASIC has suspended the Australian Financial Services Licence of a Melbourne-based financial advice firm....

1 week 5 days ago

The corporate regulator has issued infringement notices to three AFSLs whose financial advisers provided personal advice to a retail client while unregistered....

2 weeks 3 days ago

ASIC has released the results of its first adviser exam to be held in 2025, with 241 candidates attempting the test....

3 weeks 1 day ago

TOP PERFORMING FUNDS

ACS FIXED INT - AUSTRALIA/GLOBAL BOND