ICAP announces acquisition of data analytics platform provider ENSO
Markets operator and provider of post trade risk mitigation and information services ICAP plc (LON:IAP) announces today that it has acquired provider of a data analytics platform for hedge funds and prime brokers ENSO Financial Analytics (ENSO).
The acquisition has been led by ICAP’s FinTech investment incubator Euclid Opportunities, which. made its first investment in ENSO in June 2013, followed by a subsequent investment in October 2014.
ENSO will become a subsidiary of ICAP’s Post Trade Risk and Information (PTRI) division. ENSO founders Matthew Bernard, Michael Gentile, and Dwaine Alleyne will retain their leadership positions with ENSO and will report to Jenny Knott, CEO PTRI.
With over $1 trillion in total assets under advisory, ENSO provides operational insights and key analytics to many of the world’s most successful fund managers.
Michael Spencer, Group Chief Executive Officer, ICAP, said:
“We have been and continue to be impressed by ENSO, who have demonstrated the ability to build a hedge fund client base to which they have delivered an expanding and well-regarded product set. The acquisition of ENSO demonstrates the Euclid model perfectly and follows an initial investment from ICAP in 2013. I welcome the ENSO team to the ICAP Group of companies. They will benefit from our networks, our years of experience and our expertise in the markets we serve. Together, we will have the opportunity to take the business to the next stage of its growth.”
Jenny Knott, Chief Executive Officer, Post Trade Risk and Information, said:
“Our clients are seeking solutions to the structural trends of regulation, electronification and standardisation that are driving change throughout the industry. We feel ENSO perfectly complements our existing post trade client offerings and we are very excited about the synergies and many opportunities we see to expand our products and analytics services to the hedge fund and the buy side community.”