FactSet has extended its capabilities in portfolio performance, multi-asset risk and Global Investment Performance Standards (GIPS) management and reporting through the acquisition of BISAM Technologies from Aquiline Capital Partners at a cost of $205.2 million.
The acquisition adds BISAM’s B-One cross-asset performance measurement solution, which complements FactSet’s portfolio analytics and client reporting, as well as BISAM’s Cognity product, which builds out FactSet’s risk analyses for derivatives and quantitative portfolio construction. BISAM’s 160 employees will join FactSet.
Commenting on the acquisition, Phil Snow, CEO at FactSet, says: “As investment processes and asset types become more complex, the financial community is seeking increased insight and transparency on performance and risk. Over the past 20 years, we have continuously invested to evolve our analytics solutions through innovation, acquisition and strategic relationships. The combination of BISAM and FactSet allows us to better serve critical workflows throughout the portfolio lifecycle and fulfill our clients’ need for more consistent performance and risk data.”
Christophe Volard, global head of product development, performance and attribution, and a co-founder of BISAM, adds: “Joining FactSet provides BISAM with an opportunity to create scale and bring our industry-leading performance and risk systems to a broader market.”