Product & Service Launches

Clearwater Analytics Launches Fund Analytics

Clearwater Analytics Holdings Inc. launched Fund Analytics, a private markets intelligence product built on an investment data foundation that powers institutional accounting and books of record across more than $10 trillion in global assets.

The product is expected to structure and validate private market data before that data reach the analytics layer for fund managers.

The four capabilities of the platform are: performance analytics and benchmarking; portfolio monitoring and look-through analysis; liquidity forecasting; and document processing and data validation.

StepStone, PitchBook Release Deal-Level Benchmarking Tool

StepStone Group Inc., a private market investment firm, and PitchBook Data Inc., a private capital markets intelligence provider and Morningstar company, announced that SPI Deal Benchmarking, the deal-level benchmarking tool first unveiled in the firms’ May partnership, is now live and accessible to fund managers and service providers. It is available through the PitchBook platform as a stand-alone offering and to investors through SPI by StepStone.

The tool is designed to bring deal-level benchmarking into PitchBook users’ existing workflows, pairing SPI by StepStone’s performance and operating metrics with PitchBook’s private capital data, research and artificial-intelligence-powered tools. All outputs are aggregated and anonymized to protect fund manager and deal confidentiality.

Users can access an analytics interface to report performance, exposure, deployment, operating metrics and value creation analysis for private market deals. They can also filter and report across strategy, industry, geography, size and time period.

StepStone had $885 billion of total capital, including $233 billion of assets under management, as of March 31.

FuturePlan by Ascensus, Voya Launch PATH PEP

The third-party administrator FuturePlan by Ascensus, a division of financial services platform Ascensus LLC, launched PATH PEP, its pooled employer plan, in collaboration with Voya Financial Inc.

Voya is the recordkeeper and trustee, Mesirow Financial Inc. provides 3(38) investment fiduciary services, and FuturePlan is the pooled plan provider, TPA and 3(16) administrative fiduciary.

According to the announcement, the PEP is designed to support employers across multiple market segments, including the midsize and large markets.