JP Morgan subsidiary Neovest has moved to expand its capabilities in the hedge fund sphere with the acquisition of investment management platform LayerOne Financial.
The deal is intended to allow the multi-asset and broker neutral order and execution management platform to offer integrated execution, order and portfolio management services.
Both Neovest and LayerOne Financial champion the open platform approach. Once integrated, the enhanced Neovest platform will be available to hedge funds in a modular format.
Users will be able to send orders to their brokers, manage positions, monitor portfolios, and conduct risk assessments and compliance checks from a unified platform.
“Following this acquisition, Neovest can enable clients to manage their full investment lifecycle with one software provider with industry-leading capabilities,” said Jimmi Shah, chief executive officer at Neovest.
“Neovest’s key objectives are creating an exceptional client experience from on-boarding to trade execution management and expanding our product capabilities to advance and differentiate from other investment management platforms. LayerOne’s technology and people are perfectly placed to help us on this journey.”
The completed acquisition is the second announcement to include Neovest in recent months after it also partnered with MAIA Technology to enhance Fulcrum Asset Management’s execution capabilities in December. The pair have partnered to create a joint offering for the asset manager.