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CREDIT SUISSE GROUP AG

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Credit Suisse : Asset Management's NEXT Investors Announces Acquisition of NorthPoint Technology from ACA Compliance Group

02/20/2020 | 12:02pm EDT
Credit Suisse Asset Management's NEXT Investors Announces Acquisition of NorthPoint Technology from ACA Compliance Group
Credit Suisse Asset Management's NEXT Investors, a leading Fintech growth equity group, announced today the acquisition of the NorthPoint product suite and technology consulting practice from ACA Compliance Group (ACA), a leading global provider of governance, risk, and compliance advisory services and technology solutions.
New York
20.02.2020

Candice Sun,
Corporate Communications
+1 (212) 325-8226
candice.sun@credit-suisse.com

Krissy Kennedy,
ACA Compliance Group
+1 (857) 214-1740
kkennedy@acacompliancegroup.com

NorthPoint will be wholly-owned by a new business intelligence company, Portfolio BI. Jeremy Siegel will be appointed as CEO of Portfolio BI, effective immediately. 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.

Alan Freudenstein, Co-Head and Portfolio Manager of NEXT Investors at Credit Suisse Asset Management said, 'We are pleased to welcome the NorthPoint team and Portfolio BI to NEXT Investors' portfolio of companies. NorthPoint's comprehensive product suite - spanning order management software to portfolio management - provides a differentiated offering to a growing client base that includes hedge funds, allocators and asset managers. We're excited about the opportunity for growth in this vertical, as financial institutions continue to embrace new technology and tools to solve their operational and client needs.'

Raj Bakhru, Chief Innovation Officer at ACA said, 'The NorthPoint product suite fits well within the vision and technology offered by Portfolio BI. As we continue to focus on ComplianceAlpha, our regulatory technology platform, we look forward to continuing a close relationship with Portfolio BI and plan to provide exemplary service to our mutual clients.'

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. Jeremy 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.

Canaccord Genuity acted as financial adviser to ACA. Lowenstein Sandler LLP represented ACA in connection with the transaction.

Credit Suisse AG

Credit Suisse AG is one of the world's leading financial services providers and is part of the Credit Suisse group of companies (referred to here as 'Credit Suisse'). Our strategy builds on Credit Suisse's core strengths: its position as a leading wealth manager, its specialist investment banking capabilities and its strong presence in our home market of Switzerland. We seek to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets, while also serving key developed markets with an emphasis on Switzerland. Credit Suisse employs approximately 47,860 people. The registered shares (CSGN) of Credit Suisse AG's parent company, Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.

ACA Compliance Group

ACA Compliance Group (ACA) is a leading provider of governance, risk, and compliance advisory services and technology solutions. We partner with our clients to help them mitigate the regulatory, operational, and reputational risks associated with their business functions. Our clients include leading investment advisers, private fund managers, commodity trading advisors, investment companies, broker-dealers, and domestic and international banks. ACA is based in New York City and has offices in London, Hong Kong, and other U.S. cities.

Important Legal Information

This document was produced by and the opinions expressed are those of Credit Suisse as of the date of writing and are subject to change. It has been prepared solely for information purposes and for the use of the recipient. It does not constitute an offer or an invitation by or on behalf of Credit Suisse to any person to buy or sell any security. Any reference to past performance is not necessarily a guide to the future. The information and analysis contained in this publication have been compiled or arrived at from sources believed to be reliable but Credit Suisse does not make any representation as to their accuracy or completeness and does not accept liability for any loss arising from the use hereof.

Certain information contained in this document constitutes 'Forward-Looking Statements' (including observations about markets and industry and regulatory trends as of the original date of this document), which can be identified by the use of forward-looking terminology such as 'may', 'will', 'should', 'expect', 'anticipate', 'target', 'project', 'estimate', 'intend', 'continue' or 'believe', or the negatives thereof or other variations thereon or comparable terminology. Due to various risks and uncertainties beyond our control, actual events, results or performance may differ materially from those reflected or contemplated in such forward-looking statements. Readers are cautioned not to place undue reliance on such statements. Credit Suisse has no obligation to update any of the forward-looking statements in this document.

Copyright © 2020, CREDIT SUISSE GROUP AG and/or its affiliates. All rights reserved.

Disclaimer

Credit Suisse Group AG published this content on 20 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 February 2020 17:01:18 UTC


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Sales 2022 16 517 M 17 512 M 17 512 M
Net income 2022 -2 524 M -2 676 M -2 676 M
Net Debt 2022 - - -
P/E ratio 2022 -6,12x
Yield 2022 1,62%
Capitalization 14 312 M 15 174 M 15 174 M
Capi. / Sales 2022 0,87x
Capi. / Sales 2023 0,74x
Nbr of Employees 51 410
Free-Float 96,3%
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Axel P. Lehmann Chairman
Joanne Hannaford Chief Operating & Technology Officer
Thomas Grotzer Global Head-Compliance
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