State Street Launches Front to Back Private Markets Solution

State Street Corporation​ announced that it has entered into an agreement to acquire Mercatus, Inc., a premier front-and-middle-office solutions and data management provider for private market managers. 

In connection with the acquisition, the company will launch its State Street AlphaSM for Private Markets solution which will allow institutional investors to fully manage the entire lifecycle of their infrastructure, private equity, real estate, private debt and fund of funds investments through a fully integrated, digital front-to-back, single platform. This includes the ability to provide whole portfolio exposure to managers investing in both public and private markets.

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"Institutional investors are turning to the private markets as the hunt for alpha intensifies," said Paul Fleming, executive vice president and global head of State Street's Alternatives Segment. "Expanding our alternative offerings will help us meet the multifaceted needs of these investors and provide our clients with even more solutions."

"Investors in both public and private markets are realizing the risk and inefficiencies created across their bespoke front, middle, and back office solutions," said Haresh Patel, chief executive officer of Mercatus. "We are excited to join forces with State Street to achieve a new one office vision and deliver a fully integrated front to back; public to private; technology, data, and services offering all under one platform."