Credit Suisse Asset Management’s NEXT Investors has invested in Solve Advisors, a New York-based data aggregator that offer insights into fixed income market pricing.
Financial terms of the deal were not revealed.
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Co-founded by Eugene Grinberg and Gerard Nealon in 2011, Solve Advisors aggregates data across securitised products, corporate bonds, syndicated bank loans, credit default swaps, as well as municipal bonds.
SolveQuotes, the firm’s flagship platform, aggregates data from unstructured messages of clients leveraging natural language processing and machine learning technology.
Grinberg noted: “Recent demand for price transparency has been bolstered by proliferation of algorithmic trading, Fixed Income ETFs, Best Execution and TCA initiatives.
“We are excited to partner with Credit Suisse Asset Management’s NEXT Investors team to continue innovating our products and driving the growth of our team and client base.”
With the infusion, Solve Advisors aims to drive growth, develop its product line, and expand its sales and marketing presence.
Two members from NEXT Investors will now join the board of Solve Advisors.
Commenting on the partnership, NEXT Investors co-head and portfolio manager Greg Grimaldi said: “As fixed income markets become more electronic over time, Solve Advisors offers a trailblazing solution to help bring greater price transparency to the market, benefiting market participants.”
