NEW YORK, June 17, 2020 /PRNewswire/ — Credit Suisse Asset Management’s NEXT Investors, a leading Fintech growth equity group, announced today that LUX Fund Technology and Solutions (LUX FTS), a SaaS-based enterprise data management and reporting platform, and NorthPoint, a leading global provider of front-to-back office investment management solutions, have merged to form Portfolio BI. Portfolio BI provides a robust front-to-back platform for order management, portfolio management, and data management and reporting.
Credit Suisse Asset Management’s NEXT Investors invested in LUX FTS in November 2017 and NorthPoint in February 2020.
“Firms today require a highly configurable platform that supports a wide range of assets, transaction types, strategies, third-party vendor data, and workflows. Our solutions empower users to quickly and easily set up new dashboards, visualizations, data browsers, and reports with the necessary data governance to ensure accuracy and integrity of the underlying data,” said Jeremy Siegel, CEO of Portfolio BI. “Portfolio BI’s complete software offering will create tremendous value and streamline processes for buy-side managers. We are thrilled to be part of the union of LUX FTS and NorthPoint to better serve our clients and the investment industry.”
Alan Freudenstein, Co-Head and Portfolio Manager of NEXT Investors at Credit Suisse Asset Management said, “With the merger of LUX FTS and NorthPoint, Portfolio BI is able to provide a front-to-back, integrated solution for an expanded client base that now includes multi-asset class asset managers in addition to equity managers. The combined entity will also allow Portfolio BI to further scale its business through cross-selling opportunities, ultimately providing access to a larger addressable market.”
Automating workflows is a key area for many firms, which along with the ability to configure them, can optimize operations at every stage of a trade. This empowers managers to do more with the same or fewer resources, improve investor relations, improve reporting and regulatory requirements, and in many instances, make the manager more profitable. The Portfolio BI solutions support a wide range of assets, transaction types, strategies, third-party vendor data, and workflows that firms require.
Press Contacts
Candice Sun, Credit Suisse, +1 (212) 325-8226, [email protected]
Portfolio BI, [email protected]
Credit Suisse AG
Credit Suisse AG is one of the world’s leading financial services providers and is part of the Credit Suisse group of companies (referred to here as ‘Credit Suisse’). Our strategy builds on Credit Suisse’s core strengths: its position as a leading wealth manager, its specialist investment banking capabilities and its strong presence in our home market of Switzerland. We seek to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets, while also serving key developed markets with an emphasis on Switzerland. Credit Suisse employs approximately 48,500 people. The registered shares (CSGN) of Credit Suisse AG’s parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
Portfolio BI
Portfolio BI (PBI) empowers the most sophisticated buy-side firms to take control of their portfolio and trading data. Born from the merger of LUX FTS and NorthPoint, and backed by Credit Suisse Asset Management’s NEXT Investors, our clients benefit from our integrated platforms, local technological expertise, and seasoned financial experts.
We help the buy-side access, organize, and analyze their data; we help firms act on it. With the most configurable solutions on the market, our platforms can be specifically tailored to unique business needs. 150 top tier hedge funds, asset managers, family offices, funds of funds, and institutional investors have trusted PBI’s technology for over 25 years. www.portfoliobi.com
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