Pension funds AP3 and AP4 have selected SimCorp as their new provider of a front-to-back SaaS service agreement, aiming to achieve a modern and dynamic system architecture with more automated processes and a reduced number of separate systems. SimCorp's platform, combined with Axioma's risk management solutions, will allow the funds to future-proof their investment management operations. [da2a0f18]
Orion has announced the launch of an enhanced Schwab Advisor Services custodial integration featuring real-time data and a new Advisor Trading experience. The Advisor Trading experience is designed for Orion advisors who seek a sophisticated, yet efficient portfolio implementation. It connects advisors with real-time data access from Schwab Advisor Services and allows for the efficient handling of requests, reviews, and trade execution. [da2a0f18]
Monetalis and Cicada Partners have launched an actively managed credit portfolio on-chain, targeting a competitive interest rate of the 90-day Term SOFR rate + 1.5%. The portfolio also shares 50% of its net income. The Osprey Pool offers lenders the opportunity to earn interest rates of 150 bps above the risk-free rate, with active portfolio management as its low-risk strategy. The team at Monetalis has deep industry experience in fixed income asset classes and will ensure portfolio execution is in line with the defined investment strategy and risk framework. [346225ed]
Ares Management Corporation has closed its Pathfinder II fund at $6.6 billion in commitments, exceeding its $5 billion target. The fund, which focuses on private asset-based credit, is oversubscribed and closed at its hard cap. The Ares Alternative Credit strategy, which manages approximately $27.8 billion in assets, pursues a differentiated strategy of providing scaled solutions tailored to owners of large, diversified portfolios of assets. The Pathfinder family of funds also has a predefined structure of unique social impact purpose, with a pledge to donate at least 5-10% of the carried interest profits to global health and educational charities. [4c192446]
Titan Wealth has agreed to acquire Aspira Corporate Solutions, a Bristol-based advice firm, in a deal that will increase its assets under management (AUM) by £4bn to £16.6bn. Aspira offers financial and corporate advice to over 15,000 private and corporate clients in the UK. The acquisition is expected to enhance Titan Wealth's retail offering and strengthen its position in the market. The deal follows a strategic partnership formed between Titan Wealth Holdings and LEBC/Aspira in January, which resulted in Titan Asset Management developing the investment proposition and managing the LEBC/Aspira Model Portfolio Service investments. The newly appointed head of fixed income at Titan Wealth plans to offer tax-efficient direct bonds in model portfolios and launch specialist bond funds for clients. [2b9cd577]
Finance of America has adopted Spera Security solutions to enhance its defense against identity-driven cyberattacks. Spera Security provides threat detection and response, as well as posture management for all identity functions in the enterprise. The solution helps Finance of America reduce cybersecurity risks by quickly identifying deviations from NIST CSF guidelines and resolving identity-related issues. By implementing Spera Security, Finance of America aims to empower its business leaders to operate securely and efficiently. The deployment at Finance of America exemplifies the adoption of identity-first solutions to address modern cyber threats and breaches. Finance of America is a retirement solutions platform that offers a range of retirement offerings centered on the home, including reverse mortgages, home improvement loans, and home-sharing services. FOA also provides capital markets and portfolio management capabilities. Spera Security is a leading provider of identity security posture management and threat detection, offering contextualized visibility into identities, permissions, and actions to help enterprises reduce their identity attack surface and risks. [43e853f0]
Canadian digital insurance provider Apollo has raised $18.5 million CAD to launch a subsidiary called FinShore, which will offer buy now, pay later (BNPL) options for insurance premiums. FinShore will provide a fully embedded BNPL option to over 100,000 Canadians insured with Apollo, as well as insurance brokers who use Apollo's platform. The BNPL offering is an addition to Apollo's digital platform launched in 2019, which offers fully digital insurance products to Canadian consumers and embedded insurance products to partners. Fair Capital Partners served as the lead arranger and agent for the financing of FinShore. PYMNTS Intelligence has found that BNPL plans are popular among younger consumers, with 49% of Gen Z shoppers and 52% of millennials having used the payment method in the past year. [35dc9c3f]