State Street has agreed to acquire U.S.-based Mercatus, Inc., a front-and-middle-office solutions and data management provider for private market managers. The transaction is expected to be completed in September, subject to customary closing conditions. Financial terms are not being disclosed. State Street intends to offer a fully integrated platform for growing private market segments including infrastructure, private equity, real estate, private debt and fund of funds. In connection with the acquisition, the company will launch its State Street Alpha for 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 an 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.
