eVestment eyes expansion following Nasdaq deal

eVestment is likely to expand its business after being acquired for $750 million by US stock exchange group Nasdaq.

The deal will help the cloud-based analytics platform extend its geographic reach, which it has been planning in recent years, chief executive Jim Minnick told pfm.

“Nasdaq operates more than 50 offices in 27 countries and international expansion has been a key growth area for eVestment. The combination right away opens opportunities for expanding eVestment’s business internationally even more and even faster,” Minnick said.

eVestment has made a number of acquisitions in recent years, including TopQ, a private equity performance data platform for managers and institutional LPs, in 2015, and Public Plan IQ, a software tool providing public pension plan reporting and board documents for fund managers, in November 2016.

Minnick confirmed that customers of these products will not see immediate changes following the acquisition.

“At this point in our private markets effort and all our solutions, we’ll be operating business as usual, so users of our TopQ private markets products won’t see any immediate changes,” he said.