Confluence, Backed By Clearlake Capital, TA Associates, Set to Acquire Investment Metrics for $500M

Confluence Technologies, Inc., an international tech solutions provider helping the investment management industry solve complex investment data challenges, reveals that it has agreed to acquire Investment Metrics for $500 million.

Investment Metrics is a provider of investment data, performance, analytics and research software solutions that assist institutional investors and advisors with achieving improved financial outcomes, grow their assets and retain customers with clear investment insights.

Confluence is “backed by Clearlake Capital Group, L.P. (together with its affiliates, ‘Clearlake’) and TA Associates,” the announcement noted.

As stated in a release, this acquisition advances Confluence’s portfolio analytics offering and “expands its reach into the asset owner and asset allocator markets.” With the addition of these capabilities, Confluence may provide customers greater operational efficiency and “build on its culture of customer-centric innovation.” The transaction is “expected to close in the fourth quarter of 2021,” the update confirmed.

Established in 1998 with head offices in Norwalk, Connecticut, Investment Metrics services over 400 customers across 30 different countries with solutions that drive insights across 20,000+ institutional asset pools, 28,000 funds, 910,000 portfolios, representing over $14 trillion in AUA.

Investment Metrics “empowers institutional investment allocators, asset owners and asset managers with reporting and analytical research solutions that are foundational to the institutional investment ecosystem,” the announcement added.

Mark Evans, CEO of Confluence, stated:

“There is a growing need in the market for solutions that streamline operational efficiencies and drive scale. By combining our capabilities with those of Investment Metrics, we will be optimally positioned to deliver a comprehensive analytics solution to our clients, while streamlining analysis and providing fiduciary oversight across the wider ecosystem. Together we are committed to fostering a culture of innovation.”

Behdad Eghbali, Founder and Managing Partner, and James Pade, Partner, of Clearlake, remarked:

“The acquisition of Investment Metrics is a strategic extension of Confluence’s portfolio, adding highly complementary technology and analytics capabilities to help clients across the investment management industry solve their complex data challenges. We continue to be excited about supporting Mark and the Confluence team in partnership with TA as we drive consolidation in the industry and continue to accelerate organic growth.”

Sidley Austin LLP acted as legal counsel to Confluence. Centerview Partners LLC was the exclusive financial advisor and DLA Piper served as legal counsel to Investment Metrics.

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