Sovereign Capital acquires data and analytics platform Asset Control

Financial data management solution developer Asset Control has been acquired by UK-based private equity firm Sovereign Capital.

Sovereign will use its financial services and technology sector experience to support the growth of the company.

Following the deal, the current Asset Control management team will maintain their positions, including current CEO Mark Hepsworth. Alongside this, former president of capital markets at SunGard Data Systems Brian Traquair will join the board of directors.

Asset Control provides financial organisations with high-quality reference, market and risk data and analysis tools. Its tools are used for regulatory compliance, portfolio valuation and risk management purposes.

The data and analytics platform is used in 23 countries and helps banks and asset managers to manage costs and achieve high standards of data governance.

With this new owner, Asset Control hopes to achieve continued stability and invest into its product. The company has witnessed strong growth over recent years and the company hopes Sovereign will support its launch of new products and getting new clients, the company said.

Sovereign investment director Sunil Jain said, “The global marketplace for data management systems is growing rapidly and Asset Control is uniquely positioned to capitalize on this opportunity in the financial services market.

“Asset Control stands out due to its highly robust historic performance and attractive growth potential.”

Earlier in the week, fellow data and analytics platform RapidRatings picked up a $30m investment from FTV Capital. The company offers a financial health platform that helps companies to understand the wellbeing of their third parties including suppliers, customers, underwriting counterparties, borrowers and investors.

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