eVestment, a provider of traditional and hedge fund data and analytics for institutional investors, is launching new offerings in the private equity and venture capital arenas through its acquisition of TopQ, a private equity analytics firm based in Scotland.
In addition, eVestment announced the pending launch of a new and expansive private equity dataset in the second half of 2015 and will begin development to integrate TopQ with the new eVestment dataset. The TopQ acquisition closed on May 28. Terms of the deal were not disclosed.
"Institutional investors have invested more than $3 trillion with private equity firms globally, and that amount is only going to increase as those investors continue to seek diversity in their investment portfolios," said Jim Minnick, eVestment CEO and co-founder. "This acquisition and our own private equity data efforts give eVestment a strong position in this arena and we look forward to further growing our ability to serve clients in this space."
TopQ provides private equity limited partners with a faster, more effective way to conduct due diligence both pre- and post-commitment with the ability to quickly screen fund facets, dissect track records and analyze investment scenarios in multiple ways. Private equity general partners benefit from a secure and efficient method for sharing information while fundraising, while also distributing ongoing results with investors. Additionally general partners will be able to utilize this platform to benchmark and compare their funds with the broader private equity market.
"Our clients have been amazed by what TopQ can do for them and becoming part of eVestment brings the scale and resources necessary to enhance and expand the application and make it available globally," said Graham Paterson, TopQ co-founder. "With its leadership in institutional investment data and nearly 1,000 institutional investors as clients, eVestment will now be able to offer the broad private equity technology and data solutions that the institutional investor community has been seeking."