Asset International (AI), which owns The TRADE, has agreed to be acquired by Genstar Capital, a leading middle market private equity firm that focuses on investments in targeted segments of the financial services, software, healthcare, and industrial technology industries.
Founded in 2009 by chairman and CEO Jim Casella, Asset International provides critical data, business intelligence, and information services to the global investment management industry. AI delivers proprietary data and analytics, as well as marketing solutions that target global asset managers. The company’s client base includes over 500 of the most prominent names in the asset management industry, representing more than US$20 trillion of global AUM. Its recognised data products include the Simfund Mutual Fund database, Strategic Insight, Investor Economics, and Plan for Life. AI’s portfolio of marketing solutions includes brands such as PLANSPONSOR, PLANADVISER, Chief Investment Officer, Global Custodian, and The TRADE.
Tony Salewski, principal of Genstar, said, “Asset International is a strong, vertically focused information services business that we have followed for several years, and it is an exciting platform from which to build a global leader in financial data and marketing services. We are pleased that Jim chose to partner with us and we look forward to working with him to capture additional customers, accelerate product innovation, and expand the geographic reach of the company. Given the significant fragmentation among information providers globally, we have also committed capital to pursue acquisitions."
Casella added, “Our superior data has allowed us to build strong client relationships, and our business intelligence products are differentiated by their quality and ease of use. We are uniquely positioned to grow our client base and benefit from the long-term growth in retirement saving and planning driven by aging demographic trends worldwide. With Genstar’s help and expertise we will better capitalise on opportunities within our existing base of large enterprise clients, expand the product portfolio into adjacent sectors, and increase market share in underpenetrated international geographies.”
The transaction is expected to close in July 2014, subject to customary closing conditions.