Investment Operations

Broadridge Acquires Private Fund Regulatory Reporting Capabilities

Broadridge Financial Solutions has announced the acquisition of certain private fund regulatory reporting capabilities from PivotData, LLC, a data warehouse and compliance reporting solutions platform for the investment community, and its partner Sol Hedge, LLC. Broadridge will leverage their capabilities to help private fund asset managers meet their regulatory reporting requirements.

Analysts say these regulatory reporting capabilities will complement Broadridge’s existing reporting solutions, helping clients gather appropriate data, calculate what information is needed from a submission perspective and submit data to the appropriate authorities. According to Broadridge, PivotData and Sol Hedge’s proprietary data transformation, normalization and load (ETL) processes and in-house compliance experience will provide clients with a reliable, cost-effective and timely regulatory reporting solution.

“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.”

Kelli Brown, head of global product development at Sol Hedge, said that the application was custom-built to excel at regulatory reporting and that the company is looking forward to scaling with the help of Broadridge’s deep product expertise and worldwide reach.

Terms of the transaction were not disclosed.