Bloomberg to Acquire Canoe Intelligence
Bloomberg has agreed to acquire Canoe Intelligence, an artificial intelligence-powered platform specializing in private markets data management. The acquisition will integrate Canoe’s automated data collection and reporting technology into Bloomberg’s investment platform, creating a more unified solution for investors managing portfolios spanning both public and private markets.
Canoe streamlines post-investment reporting between general partners and limited partners by automating the collection, extraction and delivery of private markets data. The platform processes more than 1.5 million documents each month across 44,000-plus funds and serves more than 500 institutional clients representing over $11 trillion in assets under service, including institutional investors, wealth managers, fund administrators and family offices.
The integrated platform is expected to deliver enhanced pre-investment research, unified portfolio reporting, converged data infrastructure and AI-powered investment intelligence throughout the investment lifecycle.
“Over four decades ago, Bloomberg revolutionized the finance industry by bringing transparency and efficiency to public markets. Today, private markets are primed to undergo a similar transformation,” said Vlad Kliatchko, chief executive officer of Bloomberg.
Jason Eiswerth, chief executive officer of Canoe Intelligence, said the transaction builds on the companies’ existing portfolio management integration and will accelerate the development of comprehensive investment analytics.
Canoe’s institutional investors include Blackstone Innovations Investments, Carlyle AlpInvest, Eight Roads, F-Prime, Goldman Sachs Alternatives Growth Equity, Hamilton Lane and Nasdaq Ventures. Jefferies LLC served as Canoe’s exclusive financial adviser, while Cooley LLP acted as legal adviser.