Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Strategic Insight Founders Mull Sale, Say Sources Not Rated 4.0 Email Routing List Email & Route  Print Print
Monday, August 11, 2008

Strategic Insight Founders Mull Sale, Say Sources

Reported by Erin Kello

Strategic Insight, one of the go-to data firms in the fund industry is up for sale, sources with knowledge of the sale told The MFWire. The New York City-based firm has already begun the sale process, hiring i-bankers at Jordan Edmiston as adviser, one insider added.

Calls to Strategic Insight's co-founder Avi Nachmany were not immediately returned. E-mails sent to the company's second co-founder, Joel Rosenthal, was not answered. Calls to Jordan Edmiston were also not immediately returned.

There are as of yet no names of interested bidders mentioned by sources. Nor could The MFWire learn if a book has already been prepared for the sale. But one source said that the target price on the sale is expected to be $60 million.

In theory, a potential buyer could leverage SI's reputation as a thought leader to gain distribution of their products through fund companies. The consulting firm also has strong relationships with many asset managers that could be valued by a buyer. The New York City-based firm claims 158 clients in the United States and another 70 global clients (see its client list).

Beyond its people and industry research, SI's two most prominent products -- FundFilings and SimFund -- are unique and could be leveraged by a buyer.

Potential buyers may also find SI to be a rare property as a data-driven consultant to the fund industry. Its primary competitors would include Cerulli Associates and Financial Research Corp. (FRC).

Indeed, FRC's sale to Bisys (which was itself sold to Citigroup last year), could prove a model for how Strategic Insight would proceed. In that case, Bisys attempted to leverage FRC's research relationships to open the door for its back-office services. That formal tie mimicked an informal relationship between PFPC and Cerulli.

However, those relationships did not fulfill all of their promise in practice and that experience may make back-office providers more shy in approaching a consultant for a buyout.

Another group of potentially interested parties could be technology consultants looking to strengthen their ins with fund firms. Those firms could include: Confluence, New River and Access Data.

Finally, publishers in the financial industry space such as Source Media or the Financial Times (which recently purchased Ignites.com publisher Money-Media), could find Strategic Insight to be a strong fit.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

4.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use