Fitch Solutions has announced that it has acquired an equity stake in Portsmouth Financial Systems, a next generation provider of structured finance analytics.
Portsmouth Financial Systems has developed a cutting-edge software platform that supports the modeling and analysis of structured finance transactions, with products ranging from collateral-level analytics to cash flow modeling tools. The platform has been beta-tested with a number of investment banks, asset managers and hedge funds over the last several months. Production versions will be launched within the next few months and will be distributed via Fitch Solutions.
Fitch Group launched Fitch Solutions in January of this year to provide further separation of Fitch's analytical activities from its commercial activities and to provide a focused platform for the accelerated development of fixed income data and analytics solutions. "Fitch Solutions' investment in Portsmouth Financial Systems reaffirms our commitment to provide solutions that meet the evolving needs of investors and increase transparency in structured finance markets," said Gloria Aviotti, Group Managing Director and head of Fitch Solutions.
"Fitch is a natural home for structured finance analytics and an ideal partner for the continued development of our structured finance platform," said Michael Megliola, CEO of Portsmouth Financial Systems.
Terms of the transaction were not disclosed.