Broadridge expands buy-side reporting services with acquisition

Broadridge Financial Solutions has acquired certain private fund regulatory reporting services from PivotDada, a data warehouse and regulatory reporting platform, and its partner Sol Hedge, to help expand its buy-side reporting capabilities. 

The regulatory reporting capabilities will compliment Broadridge’s existing reporting solutions, helping asset managers to gather appropriate data, calculate what information is needed, and submit data to appropriate authorities. 

“This acquisition is a natural addition to our rapidly expanding technology and services platform for asset managers,” said Eric Bernstein, Broadridge’s head of asset management solutions. “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.”

PivotData and Sol Hedge’s proprietary data transformation, normalisation and load (ETL) processes and in-house compliance experience will provide clients with a reliable, cost-effective and timely regulatory reporting solution.

Terms of the acquisition were not disclosed.

The deal is the latest effort by Broadridge to boost its regulatory reporting capabilities. In October, it partnered with DTCC’s Globe Trade Repository for securities finance transaction reporting, and in September, launched a new MiFID II ex-post reporting solution for investment managers under the new FundAssist business, which it acquired in May 2018.