Solve Advisors (“Solve,” or the “Company”), a global industry leader of pre-trade price transparency data in fixed income markets, announced today that it has acquired two credit and municipal bond data and analytics providers, Advantage Data and Best Credit Data. Advantage Data is an award-winning analytics platform and data provider across credit products, while Best Credit Data provides insights and pricing on municipal and credit instruments to various institutional clients. The two acquisitions come shortly after Solve secured its own investment from affiliates of Charlesbank Capital Partners.
Solve will integrate Advantage Data and Best Credit Data products, operations, and teams into its existing organization. The acquisitions bolster Solve’s products with critical credit data, proprietary analytics, and workflows as the Company pursues its mission to provide a full picture of the fixed income markets. Solve’s flagship product, SolveQuotes, enables its buy-side, sell-side, and service provider clients to conduct price discovery, aggregate liquidity, and identify trading opportunities.
“We are thrilled to welcome the Advantage and Best Credit teams into the Solve family. The combined product offering provides extraordinary clarity and a tangible competitive edge to fixed income market participants,” said Solve Advisors CEO Eugene Grinberg. “This is an important milestone for Solve as we look to execute on our organic and inorganic growth strategies following the recent investment by Charlesbank.”
Founder and CEO of Advantage Data, Rene Robert, along with COO and General Counsel Gina Robert, will transition from the business through the transaction. “After 25 years at the helm of Advantage Data and four years at Best Credit Management, Gina and I are deeply pleased with the accomplishments of both teams and are delighted to pass the torch to the team at Solve Advisors,” said Robert. “As one firm, the merged entities will add value to our combined clients and offer resources to take our platform, data, and analytics to new heights.”
Solve Advisors was advised by Oliver Wyman on the transaction. Mintz served as legal advisor to the Company. Advantage Data was advised by D.A. Davidson.
About Solve Advisors Inc.
Founded in 2011, Solve has developed the largest datasets of real-time bids, offers and market color across Structured Products, Corporate Bonds, Syndicated Bank Loans, CDS, and Municipal Bonds. With locations in the US, UK, India, Caribbean, and APAC, Solve Advisors is the leading provider of market pricing in fixed income markets. The SolveQuotes platform aggregates real-time bids, offers, BWIC price talk and covers, and other market data, helping to provide unparalleled price transparency and liquidity monitoring. The powerful workflow tools eliminate the hassle of the BWIC process, consolidate dealer inventories and two-way markets, and streamline month-end for the back office. The Solve team, headed by Co-Founders Eugene Grinberg and Gerard Nealon, has extensive expertise and passion for financial markets and developing innovative technology. Further information about Solve Advisors can be found at www.solveadvisors.com.
About Advantage Data, Inc.
Founded in 1997, Advantage Data has been providing credit and credit derivative pricing, descriptive, financial and analytical information to the world’s top financial institutions for more than two decades. Advantage Data’s workstation provides access to a powerful, comprehensive and global fixed-income platform. Thousands of sell and buy-side fixed-income analysts, traders, portfolio managers and risk management professionals rely on Advantage Data every day to access quality data quickly and easily. For more information, please visit www.solveadvisors.com/advantagedata.
About Best Credit Data
Founded in 2013, Best Credit Data is a Boston-based market data vendor focused on leveraging Cloud computing technology to deliver high quality municipal bond, corporate bond, private placement, broadly syndicated and middle market loan insights to service institutional portfolio accounting, risk management, and compliance use cases. Best Credit’s clients include banks, brokers, mutual funds, hedge funds, and insurance companies. For more information, please visit www.solveadvisors.com/bestcreditdata.
About Charlesbank Capital Partners
Based in Boston and New York, Charlesbank Capital Partners is a middle-market private investment firm with more than $15 billion of capital raised since inception. Charlesbank focuses on management-led buyouts and growth capital financings, and also engages in opportunistic credit and technology investments. The firm seeks to build companies with sustainable competitive advantage and excellent prospects for growth. For more information, please visit www.charlesbank.com.