Confluence to acquire Investment Metrics for $500 million

Investment Metrics is a global provider of investment data, performance, analytics and research software solutions that help institutional investors and advisors achieve better financial outcomes, grow assets and retain clients with clear investment insights. Confluence is backed by Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) and TA Associates (“TA”).

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 new capabilities, Confluence will be able to offer clients greater operational efficiency and build on its culture of customer-centric innovation. The transaction is expected to close in the fourth quarter of 2021.

Founded in 1998 and headquartered in Norwalk, Connecticut, Investment Metrics services more than 400 clients across 30 countries with solutions that drive insights across more than 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.

“As we continue to advance on our growth strategy, Confluence is excited to welcome Investment Metrics to the team,” said Mark Evans, CEO of Confluence. “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.”

“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,” said Behdad Eghbali, Founder and Managing Partner, and James Pade, Partner, of Clearlake. “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 served as legal counsel to Confluence. Centerview Partners LLC served as exclusive financial advisor and DLA Piper served as legal counsel to Investment Metrics.