Investment management firm BlackRock has announced the acquisition of Sydney-based software development company Impact Investing, which specialises in equity portfolio management.
Impact will be fully integrated into BlackRock Solutions, a unit of BlackRock that offers a broad range of investor management tools.
BlackRock Solutions managing director and head of relationship management Robert Goldstein said they were particularly excited about the enhanced equity analysis and portfolio visualisation capabilities the integration will provide its enterprise investment platform, Aladdin.
“We believe the combination will provide tremendous value to both Impact and BlackRock Solutions clients. Given that BlackRock is among Impact’s oldest clients in support of our asset management business, this was a very natural functional and organisational fit,” he said.
“Impact recognised that we needed a partner to expand the scope of our capabilities and continue to meet the growing demands of our clients,” Impact chief executive officer Nigel Allfrey said.
“Combining BlackRock Solutions’ significant experience in fixed income and derivatives analytics as well as its multi-asset class trading platform and global service model with Impact will provide a unique solution to the marketplace.”
