US based treasury management and portfolio financial services provider Hazeltree recently revealed in an announcement that it has hired another US based financial services provider Enzo Financial Analytics-former subsidiary of CME Group – US marketplace giant which provider exchange, trading and clearance services. Enzo Financial Analytics in more popularly known in the market as leading provider of portfolio analytics for hedge funds and prime brokers. This acquisition deal fortified Hazeltree’s position as one of the market leaders in treasury and portfolio finance solutions. It should be noted that alongside investment from Hazeltree and its existing investors, this deal saw participation from London based global information provider IHS Markit in form of joint investment. Via this joint offering, the data giant is expected to use the services of US treasury and portfolio management solutions provider to evolve its own network of buy-side and sell-side clients.
Commenting on this deal, Pierre Khemdoudi, Global Co-Head of Equities Data & Analytics at IHS Markit stated, “The platforms and data solutions from Hazeltree and ENSO are highly complementary to our services and network of buy-side and sell-side clients. Our investment is a way to help align our solutions to serve the evolving needs of our customers while also establishing a foundation for potential further integration and partnerships in the future”.
While the press release spoke about acquisition of the firm and parties involved in the deal and what the firms gains from this deal, it lacked information of financial terms of transaction, to be specific – the statement contained no information on amount involved in acquisition of the firm from CME Group. This deal sees Enzo analytics purchased from CME Group in its entirety by Hazeltree and is set to be integrated with Hazeltree’s existing product portfolio. While the products themselves will remain actively available to clients and won’t see any major changes, Enzo’s prime brokerage, asset management, technology and data specialists will be integrated with Hazeltree’s team.
Commenting on the acquisition, Paul Busby, Global Head of ENSO commented, “This combination will create significant synergies for our global client base.Together, our teams will continue to deliver industry-leading technology to help drive continued innovation of our portfolio finance, treasury, and data solutions”. Speaking on same note, Sameer Shalaby, President and Chief Executive Office of Hazeltree commented, “We’re thrilled to join forces with the ENSO team as our combined talents in treasury, portfolio finance, data, and technology will offer unparalleled expertise and support to investment managers, empowering them with greater data insights, better transparency, improved workflows, and efficient execution to capture unrealized value.The acquisition will result in a truly unique integrated solution with extensive scale and talent, to support more than 200 important clients, who can now benefit from the best solutions and services available”.
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