Allianz X, the digital investments unit of the investment manager, and its subsidiary PIMCO, have led a $21 million funding round for London-based margin optimisation FinTech OpenGamma.
The FinTech said it planned to use the proceeds to expand its existing offering, including with the launch of automated workflow solutions for the treasury management of asset managers.
OpenGamma specialises in margin analytics, allowing asset managers and other institutions to increase the efficiency of their portfolios when posting collateral in derivative transactions.
“OpenGamma’s solutions are a small revolution for many investors and asset managers,” said Kevin Harder, manager at Allianz X. “Thanks to OpenGamma, collateral management is no longer a back-office issue but instead becomes an active performance driver. This makes partnering with OpenGamma an exciting opportunity for a wide range of clients from the financial industry.”
The additional funding follows several partnerships with OpenGamma in the last few years with the buy-side and other analytics providers.
Most recent was its partnership with hedge fund Aspect Capital in March last year, which saw the systematic investment manager increase its use of OpenGamma’s margin analytics across the markets it trades, building on an existing relationship since 2018.
“Inefficiencies in legacy processes are quietly increasing the cost of doing business for all asset managers, at a time when every dollar counts,” said Peter Rippon, chief executive of OpenGamma.
“We are delighted to be partnering with Allianz X and PIMCO to introduce a new standard for cash and collateral management that helps all asset managers unlock returns from their assets.”