With the acquisition, Indus Valley Partners wants to position itself as the leader in asset management offerings and managed services.
With backing from private equity firm PPC Enterprises (PPC), managed services provider Indus Valley Partners (IVP) has acquired IntegriDATA, an alternative investment software solutions provider, and combined their respective cloud platforms, officials say.
A specialist middle-market PE firm, PPC is a minority investor in IVP, and the acquisition is intended to position the IVP Group as “a leading player” in asset management technology, software, and managed service solutions, officials say.
Based in New York, IntegriDATA specializes in expense allocation, payment automation, and collateral management solutions, officials say. The company has more than 80 alternative asset manager customers, including hedge funds, private equity firms, and fund administrators, representing more than $2 trillion of assets under management (AUM).
The combined company will have assets under management (AUM) governed by the technology offerings of more than $5.5 trillion. “The combination of IVP and IntegriDATA will create the largest market share in expense allocation software for private market players,” according to the announcement.
The combined cloud-based platform “will enable fund managers to digitize complex expense allocation rules, ensuring compliance with fund expense policies. It will also allow funds to confidently scale their AUM and number of funds or vehicles, while providing a transparent process for regulators and investors to review,” according to the announcement.
“When coupled with IVP’s ‘digital first managed services platform, public and private markets managers are enabled to confidently scale their AUM, asset and capital pool complexity,” says Gurvinder Singh, founder and CEO of IVP, in a prepared statement.
Simpson Thacher & Bartlett LLP served as legal counsel to IVP and NovitasFTCL served as exclusive financial advisor while Finn Dixon & Herling LLP served as legal counsel to IntegriDATA, officials say.
IVP and PPC have declined to disclose the financial terms of the acquisition.
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