Virtus Partners Holdings, LLC (“Virtus”), a market leader in technology-enabled solutions for alternative asset managers, and Alphakinetic, a London- based financial technology firm, announced today the completed strategic acquisition of Alphakinetic’s business and assets by Virtus. Alphakinetic is the developer of the Glide platform: fund management software with trade order management, credit analysis and risk management capabilities used by front office personnel at investment management companies.
“The flexibility of Glide is “best-in-class” for a front office platform and very compatible with our existing technology stack,” stated Kelly Faykus, Co-Founder and Managing Partner of Virtus. “This [deal] fits our strategy of investing in capabilities to serve the needs of our clients through every part of the fund management process.”
Virtus provides a comprehensive, integrated suite of front, middle, and back office administrative and analytical services for alternative assets. Its global offering extends across collateral administration services for structured transactions, middle office outsourcing, global loan data, loan agency, and accounting and analytics. Today, the company administers over $300 billion in global assets across its platform.
“The deal is a fit at so many levels” said Jon Hodges, Alphakinetic’s President. “Glide is a uniquely flexible proposition for the front office and we have a strong background in credit. We look forward to continuing to drive forward our offering under the Virtus umbrella.” Mr. Hodges will continue in a senior technology role and focus on the expansion of Virtus Partners front office capabilities." Mr. Hodges will continue in a senior technology role and focus on the expansion of Virtus Partners’ front office capabilities.
Mr. Faykus added, “By combining the Virtus Partners managed services platform with Alphakinetic’s Glide software, we can provide credit managers with a turnkey cloud-based credit platform. This combination is a major step forward for the credit markets; we are now able to provide a fully integrated platform that covers all aspects of trading from trade order management to clearing for buyside clients. It is transformative.”
Alphakinetic is an established financial technology firm focused on building flexible and scalable software for cross asset trading and risk management. Alphakinetic is based in London.
Virtus specializes in tailored middle and back office solutions for fixed income and alternative asset managers looking to outsource or augment their administrative capabilities. Offices are in Houston, Austin, New York, Nanjing, Dublin and London.