Solvas, which has been developed over 20 years by Deloitte LLP, is a platform and services suite that serves asset managers and trustee participants in collateralised loan obligation (CLO) markets and offers accounting, modelling and credit risk solutions.
“The addition of Solvas strengthens and grows our suite of market-leading data and analytics products,” said Doug Hart, CEO of Alter Domus. “Crucially, this enhances our ability to meet private capital’s relentless demand for better data and technology to support their decision-making process.”
According to a document on Deloitte’s US website, some of the products and services that are part of Solvas include portfolio administration and reporting, accounting and reporting software, compliance, data processing, automation of data extraction, cloud hosting and a priority-of-payments module.
“The alternatives investment management industry has a well-known technology gap, and we are here to bridge it. Solvas is our latest strategic technology investment and it will accelerate our ability to meet global private capital’s massive demand for better data and technology solutions,” said Gus Harris, head of data & analytics at Alter Domus.
These solutions all help the alternatives industry solve one universal problem: poor access to quality data to inform timely investment decisions
“Over the past two years, we have built a proprietary data and analytics function which enables us to onboard complementary technologies seamlessly. We have a rich heritage in serving the alternatives marketplace, including the private credit markets globally. Integrating Solvas into our technology suite will give more dedicated accounting, modelling, and credit risk monitoring tools to CLO managers and other private credit investors, supported by over 4,500 accounting and private markets experts globally,” said Harris.
“These solutions all help the alternatives industry solve one universal problem: poor access to quality data to inform timely investment decisions,” said Harris.
A press release published by Alter Domus states that the acquisition is the “latest” in a series of investments that Alter Domus has made as part of its “transformational journey” in becoming a tech-led organisation.
Most of Solvas’ 200+ professionals have joined Alter Domus’ data & analytics unit, which works on aggregating, analysing and deriving insight from financial data.
Delano reached out to the company for information on the amount of the transaction, but an Alter Domus spokesperson said this was “undisclosed.”
Alter Domus, which has its offices in Gasperich, administers $2trn in assets for private debt managers, private equity firms and real estate houses. Present in 21 countries, the company employs 4,500 employees worldwide. 1,075 of them work in Luxembourg.
This article was updated at 14:30 with additional information from Alter Domus.