Alt Investments
Mirador, Canoe Intelligence Ink Alternative Assets Partnership
The pact means Mirador's ability to rapidly tell clients about investments in sectors such as hedge funds and private equity will be enhanced, the firms said.
Wealth management technology firms Mirador and Canoe
Intelligence, which both recently commented about client
reporting issues for this publication, are to partner over
delivering data on alternative investments such as private equity
and hedge funds.
Mirador provides portfolio-performance reporting solutions for
high net worth families, family offices, and wealth management
firms. Canoe Intelligence is a tech firm that eliminates manual
data entry for alternative asset investors.
"We know that a third of ultra-high net worth portfolios consist
of private company holdings, private equity stakes and other
alternatives," Mirador founder, Joseph Larizza, said. "That's why
Canoe developed this technology and why Mirador is thrilled to
incorporate its capabilities into our reporting process. Together
with Canoe, Mirador is able to more efficiently report on the
complex portfolios of our families, family offices and wealth
managers and be confident that their financial data is accurate
every time,” he said.
Family offices and other wealth managers’ portfolios are
increasingly complex, spreading into investments such as private
equity, hedge funds, infrastructure and venture capital. Firms
are inundated with heavy document loads, often containing 200,000
or more transaction, valuation and performance data points,
Mirador said in a statement.
“Canoe's technology automates the extraction and management of
these data points and documents, allowing firms to refocus
capital and human resources on business performance and growth,”
Mirador said.
Mirador’s clients collectively represent more than $30 billion in
wealth. It said that the Canoe partnership will slash the time it
takes to handle data and deliver reports more quickly.
Canoe's AI-driven platform was developed in 2013 for a
multi-family office and is now used by more than 70 institutional
investors, advisors, and family offices.
