20th Oct 2014 09:37
LONDON (Alliance News) - ICAP PLC Monday said it has made a further investment in ENSO LP, a provider of market intelligence and analytics for fund managers, following on from an initial investment in May 2013.
ENSO, which provides portfolio analytics to clients including hedge funds and asset managers, has over USD300 billion of assets on its platform.
"We have been greatly impressed by ENSO?s progress and are delighted to continue our support for the company. Our investment will enable ENSO to deepen its product offering while maintaining strong client growth," Chief Executive Michael Spencer said in a statement.
ICAP didn't give the size of its latest investment in ENSO.
Through Euclid Opportunities, an ICAP-owned early stage seed funding programme, ICAP has made a number of investments in growth companies that provide innovative technology in the areas of post-trade risk management, data and financial market applications.
ICAP?s principle investment in ENSO follows an initial investment in 2013 that focused on assisting the company's geographic expansion alongside its product development.
Michael Gentile, partner, ENSO, said: "ENSO will use this investment to expand heavily in both client delivery and product development. This investment further provides the fuel to connect our managers through innovative solutions, giving control to our expanding community as they manage a rapidly changing regulatory framework."
ICAP shares were Monday quoted up 0.8% at 391.10 pence.
By Samuel Agini; [email protected]; @samuelagini
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