Bloomberg is set to acquire alternative investments management platform, Canoe Intelligence, in an effort to enhance institutional private markets investing.
Vlad Kliatchko
The deal aligns with Bloomberg’s ongoing multi-year strategy to provide unified data, analytics and tools to power end-to-end workflows and support investors in both public and private markets.
Through the transaction, Bloomberg will incorporate Canoe’s private markets capabilities into its solutions, to boost innovation in tools and insights across the investment lifecycle.
Specifically, the acquisition aims to address the challenge of fragmented data and intelligence across private markets intelligence.
Key capabilities set to be gained through the transaction include provision of a fully integrated total portfolio view, enhanced pre-investment intelligence, converged data infrastructure and AI-powered intelligence.
Vlad Kliatchko, chief executive of Bloomberg, said: “Over four decades ago, Bloomberg revolutionised the finance industry by bringing transparency and efficiency to public markets. Today, private markets are primed to undergo a similar transformation as investors seek the same kind of structured, timely insights across private assets.
“Canoe gives us access to the data, technology, and community to respond to that shift, and positions Bloomberg to deliver an experience that will define the next era of investing: connecting data, analytics, and tools to support the full investment lifecycle across both public and private markets.”
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Currently, Canoe’s offering provides structured insights to more than 500 institutional clients including large institutional investors, fund services, wealth managers and family offices, totalling in excess of $11 trillion assets under service together.
Elsewhere, Bloomberg’s private markets business delivers data on more than three million private markets, 50,000 private funds and 16,000 private direct loans.
The news also builds on an integration between both Bloomberg and Canoe in April this year, designed to bolster cross-asset portfolio analysis by connecting permissioned private fund data directly to Bloomberg PORT Enterprise.
Jason Eiswerth, chief executive of Canoe Intelligence, added: ” Joining Bloomberg lets us build on that foundation at scale, with more resources, more reach, and more data behind Canoe, giving investors the clarity to analyse their complete portfolios and the confidence to act on what they see. This is how the world invests in alternatives going forward.”