Credit Suisse Asset Management’s NEXT Investors acquires NorthPoint Technology

Maria Nikolova

NorthPoint will be wholly-owned by a new business intelligence company, Portfolio BI.

Credit Suisse Asset Management’s NEXT Investors, a Fintech growth equity group, has announced the acquisition of the NorthPoint product suite and technology consulting practice from ACA Compliance Group (ACA).

NorthPoint will be wholly-owned by a new business intelligence company, Portfolio BI, which will have Jeremy Siegel as its CEO. ACA will retain its RegTech solutions, including ComplianceAlpha® and its Regulatory Reporting software, and ACA will partner with Portfolio BI to service mutual clients.

NorthPoint Solutions was founded in 2003 and acquired by ACA in 2014. The product suite includes mission-critical financial software and services to leading investment management firms. NorthPoint offers an Investment Management suite which includes an Order Management System (OMS), Portfolio Management, Data Warehouse, Security Master, and Price Master. NorthPoint also offers a full suite of professional services, and has provided solutions to over 150 investment managers.

Jeremy Siegel, who serves as CEO of LUX Fund Technology and Solutions, a business and technology solutions provider for the alternative asset industry, will concurrently lead Portfolio BI. He brings 24 years of experience in financial services with specific expertise in supporting hedge funds globally to grow their businesses through technology, operations and institutional systems.

Credit Suisse Asset Management’s NEXT Investors identifies minority growth equity investment opportunities in private technology and services companies globally where the team has domain expertise and actionable edge. The team’s portfolio comprises high-growth private businesses that interact with the financial services industry across sectors including Market Structure, Financial Technology, Enterprise Software, Data Analytics and Specialty Finance.

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