Credit Suisse Asset Management’s NEXT Investors, a leading Fintech growth equity group, announced that LUX Fund Technology and Solutions (LUX FTS), a SaaS-based enterprise data management and reporting platform, and NorthPoint, a leading global provider of front-to-back office investment management solutions, have merged to form Portfolio BI. Portfolio BI provides a robust front-to-back platform for order management, portfolio management, and data management and reporting.
Read More: Kensho Collaborates with NVIDIA to Advance Automatic Speech Recognition
Credit Suisse Asset Management’s NEXT Investors invested in LUX FTS in November 2017 and NorthPoint in February 2020.
“Firms today require a highly configurable platform that supports a wide range of assets, transaction types, strategies, third-party vendor data, and workflows. Our solutions empower users to quickly and easily set up new dashboards, visualizations, data browsers, and reports with the necessary data governance to ensure accuracy and integrity of the underlying data,” said Jeremy Siegel, CEO of Portfolio BI. “Portfolio BI’s complete software offering will create tremendous value and streamline processes for buy-side managers. We are thrilled to be part of the union of LUX FTS and NorthPoint to better serve our clients and the investment industry.”
Read More: Fintech Europe Selects Ten Startups for its Fifth Batch
Alan Freudenstein, Co-Head and Portfolio Manager of NEXT Investors at Credit Suisse Asset Management said, “With the merger of LUX FTS and NorthPoint, Portfolio BI is able to provide a front-to-back, integrated solution for an expanded client base that now includes multi-asset class asset managers in addition to equity managers. The combined entity will also allow Portfolio BI to further scale its business through cross-selling opportunities, ultimately providing access to a larger addressable market.”
Read More:Â Kreditech Rebrands to Monedo as It Steps Up Growth in International Lending Markets
