Preqin, an alternative assets industry’s source of data and intelligence, has acquired Baxon Solutions, a provider of cloud-based private equity monitoring tools.

Preqin has taken a controlling stake in the company, with the Baxon founders maintaining a minority holding. 

The two companies formed a strategic partnership in January 2015, and this second phase will build on the success of the past two years. 

Mark O’Hare, CEO of Preqin, said: “We are excited to take our partnership with Baxon to the next level and fully incorporate it within the Preqin group. The private equity industry is facing a period of increasing reporting and regulator challenges, and Baxon’s platform is ideally placed to help fund managers in navigating them.”

The initial focus following this acquisition will be the further development of Baxon’s market-leading portfolio management and investor reporting platform, as well as expanding into a number of other geographic regions.

Established in 2005, Baxon PCMS provides clients with a tailored platform offering automated solutions for front and middle office tasks such as monitoring, analyzing, benchmarking and reporting on portfolio company and fund performance. 

It gives fund managers an efficient way of tracking their portfolio investments and demonstrating the progress of these to their investor base.

O’Hare said: “With Preqin’s long expertise in turning raw data into meaningful insight and analysis, and its global access to investors’ expectations, we have a unique understanding of the issues involved in this task, and we look forward to helping Baxon expand further in the future.” 

“Baxon has a tremendous reputation with its growing customer base, and delivers services of real and enduring value to private equity GPs and their LPs in valuing and monitoring their portfolio companies,” he said.

Paula Espana, Co- Founder of Baxon, added: “By combining Baxon’s suite with the most comprehensive data source in the alternative assets industry, we will deliver the market’s most advanced, scalable cloud-based solution to enhance portfolio monitoring, valuation and reporting processes for the middle market. Our combined capabilities will help GPs benchmark their performance continuously and in real time, while providing more comprehensive information to their LPs.”

Preqin’s products and services are utilized by more than 40,000 professionals located in over 90 countries, for a range of activities including investor relations, fundraising and marketing, and market research.