Bloomberg partners with AI private markets data provider Daphne Technologies
Bloomberg has announced a strategic partnership and investment in Daphne Technologies, an AI-powered private markets data provider for alternative asset managers.
It joins Apollo Global Management, Hamilton Lane and Motive Partners as investors in the company.
As part of the partnership, alternative asset managers will be able to publish private markets data directly to the Bloomberg terminal using Daphne’s solution.
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Daphne enables alternative asset managers to share data more easily with distribution partners such as investment consultants, wealth platforms, data companies and research networks, as well as investors.
The platform gives AI tools to fundraising and investor relations teams at asset managers, in order to streamline their fundraising and eliminate manual work. It also provides analytics, offering insights into investment engagement.
Bloomberg and Daphne expect that Apollo Global Management will be the first firm to use Daphne to distribute select investment fund data through the Bloomberg Terminal.
Additionally, Bloomberg and Daphne will work together to align data fields for private market funds, aiming to improve data consistency and coverage.
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“The partnership with Bloomberg is a significant milestone for Daphne,” said Amit Gairola, chief executive of Daphne.
“Their investment is a testament to the strength of our vision and the tremendous opportunity ahead. Allowing asset managers the ability to publish their data directly to the Bloomberg Terminal will provide them with significant exposure and allow them to expand their reach.”
Bradley Foster, head of fixed income and private markets at Bloomberg, said: “Private Markets is a strategic priority for Bloomberg and we plan to provide solutions that collectively address our clients’ priorities across both public and private markets, including helping asset managers easily expand their networks for distribution of this valuable information. Daphne’s innovative technology and normalised data will help accelerate our ambition to provide comprehensive, high-quality fund data to our customers.”
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