Broadridge Financial Solutions announced the acquisition of certain private fund regulatory reporting capabilities from PivotData, a data warehouse and compliance reporting solutions platform for the investment community, and its partner Sol Hedge. Broadridge will use their capabilities to help private fund asset managers meet their regulatory reporting requirements. Terms of the transaction were not disclosed.
PivotData and Sol Hedge’s proprietary data transformation, normalization and load (ETL) processes and in-house compliance experience will help clients gather appropriate data, calculate what information is needed from a submission perspective and submit data to the appropriate authorities.
Eric Bernstein, Broadridge’s head of asset management solutions, said in a statement: “Regulatory reporting is a notorious struggle across the asset management industry, and PivotData and Sol Hedge’s industry expertise will help our current and prospective Broadridge clients meet their current requirements and be ready for what’s next.”