Allianz X has led a $21 million funding round in derivatives analytics firm OpenGamma.
OpenGamma helps asset managers and other professional financial market participants to increase the capital efficiency of their portfolios, particularly when it comes to posting collateral in derivative transactions. Fixed income investment manager Pimco, a subsidiary of Allianz, is one the firm's marquee clients.
Kevin Harder, manager at Allianz X, says: “Thanks to OpenGamma, collateral management is no longer a back-office issue but instead becomes an active performance driver. This makes partnering with OpenGamma an exciting opportunity for a wide range of clients from the financial industry.”
The London-based firm intends to use the fresh cash to back up the launch of new automated workflow solutions for the treasury management of asset managers and other financial participants.