State Street Corp. has agreed to acquire Mercatus Inc., a front-and-middle-office solutions and data-management provider for private-market managers.
Mercatus has operations in the United States, United Kingdom and India, and manages more than $1 trillion invested capital across its global private-markets client base.
The transaction is expected to be completed in September.
In connection with the acquisition, State Street is planning to launch a new private-markets solution, which will allow institutional investors to fully manage the entire lifecycle of their infrastructure, private equity, real estate, private debt and fund-of-funds investments through a fully integrated, digital front-to-back, single platform. This includes the ability to provide whole-portfolio exposure to managers investing in both public and private markets.
“Investors in private markets have historically struggled with inefficient and manual processes because existing solutions