Sector developments and company hires

S&P Global has announced the acquisition of the private markets data solutions provider, Private Market Connect (PMC). The acquisition will integrate the platform into the firm’s market intelligence division and will increase the breadth and depth of its data solutions for Limited Partner and General Partner customers. PMC currently tracks over 15,000 unique funds and US$1.2trn in private markets commitments. Prior to the acquisition, S&P was a 50% stakeholder in the business and has now acquired the remaining 50% stake from Hamilton Lane. After closing, S&P will continue to offer data solutions to Hamilton Lane.

In other news…

Asia Pacific

Validus and Citi have established a new US$100m securitisation facility collateralised by SME loans originated by Validus in Singapore. The securitisation facility marks the first example of a collaboration between a large global bank and a fintech in Southeast Asia. The new facility also has participation from the Singapore-based multi-asset investment manager, First Plus, and was launched early in the second quarter of this year. Since the facility was established, Validus has doubled its borrower base in Singapore and expanded its loan book by 60%. The firm hopes that the securitised lending structure, alongside a diversified financing and product strategy will enable even greater group growth.

EMEA

Debitos is expanding its business into Italy with the opening of a new branch in Milan, marking the establishment of its first branch outside of its Frankfurt headquarters. The new office will be led by Francesco Paolo Bellopede, Debitos’ country director for Italy, who will be joined by four new recruits expected to join the firm by the end of the year. Debitos hopes its presence in Milan will aid its service of its growing Italian client base and partners, as well as its existing pipeline of credit transactions that has already been secured through the region.

North America

MetLife Investment Management (MIM) is set to acquire the specialist ESG manager, Affirmative Investment Management (AIM). MIM hopes the acquisition will help expand its sustainable investing solutions for its institutional clients, while also strengthening AIM’s mission to manage high-performing portfolios that consider positive environmental and social impact. MIM intends for the acquisition of AIM, which held a total of US$1.01bn in assets under management as of June 2022, will help boost its ESG investment and reporting capabilities. The transaction is subject to customary closing conditions and regulatory approval.