Broadridge Financial Solutions has acquired certain private fund regulatory reporting capabilities from PivotData, a data warehouse and compliance reporting solutions platform for the investment community, and its partner Sol Hedge.

Broadridge will leverage their capabilities to help private fund asset managers meet their regulatory reporting requirements.
 
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. PivotData and Sol Hedge’s proprietary data transformation, normalisation 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,” says Eric Bernstein (pictured), 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.”
 
“Our application was custom-built to excel at regulatory reporting and we look forward to scaling with the help of Broadridge’s deep product expertise and worldwide reach,” said Kelli Brown, head of global product development at Sol Hedge.
 
Terms of the transaction have not been disclosed.