Convergence: Transparency for Alternative Assets

The global economic challenges facing asset allocators, especially pension plan, has ensured that alternative asset classes (Hedge–PE–Real Estate–VC–Structured Assets) play a key role in diversification and return in the investment management industry. In fact, PwC predicts that between now and 2020, alternative assets are expected to grow from $7.9 trillion to $15.3 trillion. The ability to extract value from data has emerged as a powerful competitive differentiator for alternative asset managers and their service providers. To help them navigate the complexity of issue that each faces in the marketplace, Convergence—a fast growing financial technology company—offers unique insights and solutions to navigate the fact growing alternative asset management industry. “Armed with a fundamental drive to create transparency and provide information that helps people take better decisions, we created Convergence,” begins John Phinney, the company’s Chairman & Co-President.

Convergence provides analytical data, benchmarking, custom research, and advisory services to the alternative asset management industry. Convergence’s data is unique because it is enriched by subject matter experts and data analysts. The company focuses on the manager/ advisor infrastructure including investment operations, risk management, marketing, investor relations, tax, compliance, technology, and service provider infrastructure.

According to George Evans, Co-President of Convergence, the Advisors are creating a massive “digital footprint” about their businesses through regulatory filings, social media and other forms of communication, yet all the information is not easily obtainable, structured, and not comparative in nature. “Convergence has created an entirely new platform comprising data, research, and analytical products and services that focus on exposing, improving and enhancing the business model and infrastructure of alternative asset managers,” he adds.

The Convergence Platform includes Research—a web-and mobile-based product providing access to the entire Convergence Database; and Surveillance—a custom built product providing compact and robust visual presentation of the Convergence data elements that are most important for customers to monitor on a daily, weekly, monthly and/or quarterly basis.