Broadridge Financial Solutions, Inc. (NYSE:BR), an established provider of investor communications and tech-driven solutions to banks and asset managers, has announced that PAG, a major Asia-focused investment group, has selected Broadridge as a Cloud-enabled portfolio management solution provider.
As confirmed in a release, the enhancement will aim to support PAG’s capabilities for managing its private debt operations. PAG will be using Broadridge’s scalable cloud-powered system (called Sentry) to effectively manage its portfolio. As explained in the announcement, the Sentry portfolio management solution will help PAG’s private debt team “fully integrate middle- and back-office operations into a single streamlined technology system.”
Derek Crane, COO at PAG, said that private debt in Asia has offered many new opportunities for companies that can manage the inherent complexity in these markets. Crane claims that PAG has an established track record of successful performance. He also mentioned that the support of Broadridge’s technology should help his company with positioning themselves for their “next phase of growth.”
Eric Bernstein, president of Asset Management Solutions at Broadridge, remarked:
“We are delighted that PAG has chosen Broadridge’s portfolio management technology in Asia to advance its operational efficiencies in private debt. Investors are demanding robust growth alongside transparency, and our technology systems can help clients achieve both needs.”
PAG is an established private debt manager in Asia. It offers financing solutions to its business partners across the APAC region. Meanwhile, Broadridge is focused on enhancing its capabilities to meet the new technology requirements of the private debt and private equity marketplace. Broadridge has acquired ClearStructure Financial Technology so that it can further expand its capabilities when it comes to improving investment workflow efficiency.
Broadridge’s private equity platform reportedly leverages blockchain or distributed ledger technology (DLT) to streamline the complex private equity lifecycle for market participants.
Earlier this month, Broadridge Financial Solutions announced that it had formed a partnership with Germany-based payments consultancy and supplier PPI AG to launch a joint payments initiative for banks and financial institutions in Europe.
Broadridge claimed that the new solution has already secured its first customer, which is reportedly a Europe-headquartered commercial bank active in corporate and private banking.