About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Confluence Plans Organic Growth and Strategic Acquisitions Following Investment from Clearlake Capital

Subscribe to our newsletter

Clearlake Capital Group’s agreement to acquire a majority stake in Confluence provides the regulatory and data solutions provider with backing to accelerate global expansion, develop additional solutions, integrate emerging technologies, and continue down the acquisition trail.

Clearlake will acquire Confluence from private equity firm TA Associates, which partnered Confluence in 2018 and will continue to hold a minority stake in the company. The Clearlake transaction is expected to close in the third quarter of 2021. Executives at the investment firm say: “We believe, with the backing of Clearlake and its operational improvement approach framework, Confluence can achieve further success through both organic growth and strategic acquisitions.”

Mark Evans, CEO of Confluence, who will retain his role along with the existing management team after the Clearlake acquisition, says support from the equity investor will accelerate ongoing global expansion as the company continues to work with clients to achieve their goals, one of which is tighter systems integration to move towards solutions that serve everyone in an organisation. He comments: “Convergence is what investors expect to see, regulators must see, and upstream systems will benefit from.”

Confluence’s data solutions include data technology and services to solve client problems, as well as performance and analytics tools. These are developed across centres of excellence in India, Vietnam, Pittsburgh and London, with a focus on data quality and curation and, most recently, the addition of machine learning capabilities that will be brought to market soon.

On the regulatory side, where Confluence offers integrated regulatory risk, compliance and reporting, Evans says: “This is an exciting space but there are challenges in the speed of change. I have never seen more opportunity to be helpful and responsive now things are moving so quickly.”

Confluence was founded in Pittsburgh, PA by Evans back in 1991, and starts its next phase of global expansion with a base of 400 clients globally, predominantly asset managers and fund administrators using hosted cloud solutions, although some continue to use on-prem software. The company has offices in 10 countries, and coincidentally, 400 employees.

Acquisition will play a part in further growth, with Evans saying ‘the Clearlake investment will give Confluence the ability to look for more, meaningful acquisitions’. He adds: “We are talking to lots of cool companies that are coming up. We are equally interested in small and large tech companies that could give us more breadth.”

The company most recently acquired Fundpeak, a provider of tools that help buy-side firms manage marketing and communications, but is better known for its October 2019, £161 million acquisition of StatPro, a specialist in cloud-based portfolio analytic software, asset data services and data management tools for the global asset management industry and asset management service providers. TA Associates worked with Confluence through the StatPro acquisition, which expanded the Confluence platform to offer a broad set of solutions across the investment lifecyle.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: How to organise, integrate and structure data for successful AI

Artificial intelligence (AI) is increasingly being rolled out across financial institutions, being put to work in applications that are transforming everything from back-office data management to front-office trading platforms. The potential for AI to bring further cost-savings and operational gains are limited only by the imaginations of individual organisations. What they all require to achieve...

BLOG

How to Successfully Deploy Agentic AI in Financial Services

By Levent Ergin, Chief Climate, Sustainability & AI Strategist at Informatica Agentic AI has huge potential in financial services. But getting it out of the lab and into production is where most firms stumble. The real challenge isn’t the technology; it’s the balancing act: moving fast enough to innovate while keeping risk under control. It’s...

EVENT

AI in Capital Markets Summit London

The AI in Capital Markets Summit will explore current and emerging trends in AI, the potential of Generative AI and LLMs and how AI can be applied for efficiencies and business value across a number of use cases, in the front and back office of financial institutions. The agenda will explore the risks and challenges of adopting AI and the foundational technologies and data management capabilities that underpin successful deployment.

GUIDE

Regulatory Data Handbook 2025 – Thirteenth Edition

Welcome to the thirteenth edition of A-Team Group’s Regulatory Data Handbook, a unique and practical guide to capital markets regulation, regulatory change, and the data and data management requirements of compliance across Europe, the UK, US and Asia-Pacific. This year’s edition lands at a moment of accelerating regulatory divergence and intensifying data focused supervision. Inside,...