Axioma acquired the regulatory- and risk-reporting units of back-office service provider ConceptONE.
Terms were not disclosed. The acquisition will add global regulatory compliance services for money managers and hedge funds to offerings from Axioma, a risk management and portfolio construction service provider for managers and other financial institutions.
Axioma previously did not provide global regulatory reporting capabilities, said a spokesman.
The units will be combined with Axioma Risk, Axioma’s enterprise-wide risk management system, but will also be offered under the ConceptONE brand, the spokesman said.
ConceptONE’s fund administration is not being acquired by Axioma and will continue to operate independently.