DALLAS, Dec. 5, 2017 /PRNewswire/ -- Solovis, a multi-asset class portfolio management, analytics and reporting platform for limited partners and asset allocators, today announced the acquisition of Madrone Software & Analytics, Inc. a provider of portfolio, risk analytics and market intelligence for the asset management industry. With the acquisition of Madrone, Solovis clients gain access to advanced fund analytics, detailed risk analysis, and operational and investment due diligence capabilities – enabling them to make better strategic portfolio decisions.
The purchase of Madrone, based in San Francisco, CA, aligns with Solovis' strategy to deliver a single technology platform for configurable, multi-asset class reporting that factors in performance, risk, exposure, liquidity, and fund-level transparency and aggregation. Asset owners and asset managers will now be able leverage Madrone's behavioral-based analytics within Solovis' highly configurable platform to more accurately measure portfolio and organizational skill and risk.
"Madrone is a strategic acquisition that enables Solovis to continue to drive leadership and innovation in the asset management industry," said Josh Smith, CEO and co-founder of Solovis. "Our ability to aggregate and analyze multi-asset class portfolios at a strategic level over both short and long-term horizons is unique in the industry and fills a gap for limited partners, including pensions, endowments, foundations, and family offices. Over the last year, our clients and partners have requested more visibility into fund-level allocations and risk analytics, team member performance and peer benchmarking. Our acquisition of Madrone delivers on these capabilities and more."
Solovis will use Madrone's existing Root and 5 Forces products and leverage current custodian, administrator and third-party data relationships, providing clients with an expanded portfolio management product and analyst services suite.
"We are thrilled to join Solovis' talented team to deliver a unique and powerful portfolio management and intelligence platform," said Michael Siminoff, founder and CEO of Madrone. "Madrone was founded with the goal of integrating disparate datasets to provide actionable intelligence to investors. Joining forces with Solovis establishes a transformational solution for the asset management industry, delivering unbiased, data-driven decision support."
Baker Donelson acted as legal advisor to Solovis and Osborn McDerby acted as legal advisor to Madrone.
Solovis is a multi-asset class portfolio management and reporting solution for foundations, endowments, pensions, OCIOs, and family offices. Designed and built for open architecture asset management, Solovis is a flexible, robust technology platform that enables detailed analysis and dynamic data modeling across multiple portfolios and pools of capital for actionable, transparent insights that empower investors from the front to back office.