Thrive Acquires Financial Services MSP InfoHedge
Thrive says InfoHedge, based in New York, will become a dedicated business division focusing on the alternative investment management and hedge fund community. The company also says there are plans to expand InfoHedge’s application hosting services and geographic reach.
InfoHedge, launched more than a decade ago, recently won the 2018 Alternative Investment Award for excellence. The company services nearly 400 hedge fund, REIT, asset management, and family office customers. While its headquarters are in New York, the company also has employees in Boston, Chicago, Dallas, San Francisco, Connecticut, and Florida.
Private Equity Fueling MSP Acquisitions
Like many MSPs that are driving M&A deals these days, Thrive has private equity owners. M/C Partners has owned Thrive since late 2016. Although the MSP does not publicly disclose its financial results, anecdotal evidence suggests Thrive has enjoyed substantial growth under M/C Partners’ ownership. The MSP had languished a bit under the previous ownership of Staples (2007), MetTel (2014), ChannelE2E believes.
Meanwhile, MSPs in the financial services sector are hot M&A targets. For instance, earlier this year private equity firm H.I.G. Capital invested in Eze Castle Integration (ECI), a well-known MSP supporting financial services customers.
Additional insights from Joe Panettieri.