Confluence, a data management firm, has moved to build its ability to deliver tools for alternative investors under Europe’s new regulatory regime.
Confluence, based in Pittsburgh, Pennsylvania, has bought Data Agent, based in Berkley, California, in a bid to offer investment managers a system for meeting the reporting requirements under the Alternative Investment Management Fund Directive (AIFMD), which came into force in July 2013.
Confluence made the announcement last week in Luxembourg and unveiled its Unity NX AIFMD Transparency Reporting system.
The firm says its tools are used by 60 % of US mutual funds.
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