Canoe Intelligence Unveils Canoe Asset Data Following Completion of Design Partnership with 13 Clients
The launch of Canoe Asset Data exemplifies Canoe’s commitment to automating alts data workflows in the back, middle, and front offices, expanding capabilities with deeper transparency and insights at the asset level for its roster of 300+ clients around the world.
NEW YORK and LONDON, March 13, 2024 – Canoe Intelligence (“Canoe”), the platform for smarter alts management, today announced the commercial launch of Canoe Asset Data, an innovative solution to the industry-wide challenge of accessing and using complete, timely, and accurate asset-level data. This new offering delves deeper into the underlying holdings of alternative investments, leveraging the unique document collection, tracking, extraction, and organization technology that has driven the industry adoption of Canoe Intelligence.
Canoe identified strong demand across its diverse client base and the broader market for access to asset-level data, now considered essential for front-office decision-making and industry-standard for effective alternative investment allocation. Asset Data solves several key investment use cases, including exposure analysis, portfolio analysis, and due diligence, while alleviating the operational challenges in accessing this granular data.
Through its Canoe Asset Data Design Partnership, Canoe addressed and solved this challenge by collaborating with 13 clients to build Canoe Asset Data: a highly scalable, cost-effective solution that complements the company’s existing offerings and technology-first approach.
Canoe Asset Data efficiently extracts, standardizes, and delivers asset-level data directly sourced from General Partners’ documents, freeing investment teams to focus on investing instead of aggregating documents and data.
Key features include:
- Holdings Summary: Snapshot of the composition of the portfolio and static asset attributes, aiding in understanding exposure.
- Operating Metrics: Data and analysis of various static and transactional attributes related to each underlying asset, aiding in understanding how well the underlying assets are performing.
- Transaction Attribution: Details on intra-quarter investor attribution to assets, offering transparency into the impact of these cash flows on their own overall portfolio.
Clients can also leverage the in-app Canoe Asset Data Center to view complete data sets and run custom data extracts.
Aman Soni, VP of Data Strategy at Canoe, said, “Our rapid progress in developing Canoe Asset Data was fueled by the invaluable collaboration with our clients. Having surpassed initial expectations during our beta launch, we decided to release our comprehensive solution, ahead of schedule, along with a user-friendly interface for custom data extraction. Prior to its commercial launch, Canoe Asset Data saw strong adoption from its design partners, which speaks volumes about the end product, our team’s dedication, and our clients’ support.”
Canoe Asset Data Design Partners ranged from global asset servicers and investment consultants to wealth managers and family offices, including esteemed client firms such as Prime Buchholz, Ohana Advisors, Selective Insurance, and Lazard Asset Management.
Commenting on the impact of Canoe Asset Data on the firm’s operations and efficiency, Ohana Advisors’ Managing Partner and COO, John Schneider, states, “We’ve been really happy with the offering so far. Checking the data versus assembling it in the first place is a much less time-intensive process. Yet, the true ‘aha moment’ came when we witnessed our specific fund data neatly presented in a spreadsheet, reducing our investment analyst’s workload by about one week each quarter.”
Canoe Asset Data is the inaugural product release from the Canoe Data Innovation Hub, an initiative dedicated to driving innovation, transformation, and transparency in the alternative investment markets by proactively addressing and solving big industry challenges. Unveiled last year, the Hub’s first project was the Canoe Asset Data Design Partnership.
“Reflecting on our journey of growth and progress, we are excited to unveil Canoe Asset Data, a significant leap forward in our mission to revolutionize the alternative investment landscape,” said Jason Eiswerth, CEO of Canoe Intelligence. “Canoe Asset Data was designed and built in response to clients voicing the need for deeper transparency and insight into their portfolios, spanning both public and private markets. With Canoe Asset Data, we address this fundamental industry need by providing a holistic view of exposures with unparalleled precision and clarity. This launch marks a strategic milestone in our commitment to delivering innovative solutions that empower investors to navigate today’s complex financial landscape with confidence.”
In conjunction with the launch, Canoe will be hosting a webinar on April 16th at 11:00 AM ET, in partnership with Prime Buchholz, to highlight how clients are utilizing and deriving value from Canoe Asset Data. This webinar will provide valuable insights into the practical applications and benefits of the platform.
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About Canoe Intelligence:
Canoe Intelligence (“Canoe”) is a financial technology company dedicated to advancing alternative investment intelligence for institutional investors, capital allocators, wealth managers, and asset servicing firms. Canoe empowers clients with technology, data, and insights to manage alternative assets more efficiently, accurately, and confidently. With a commitment to innovation and excellence, Canoe is redefining the future of alternative investment data management.