Investment management technology firm Arcesium announced that J.P. Morgan JPM 86,08 -2,35 -2,66% has invested an undisclosed amount of capital in the company.
The investment is expected to deepen Arcesium’s strategic partnership with J.P. Morgan, including their Securities Services business, a provider of independent fund administration and outsourcing solutions to alternative fund managers, asset managers and asset owners.
D.E. Shaw launched Arcesium in 2015 through its incubator group DESCOvery. The firm has grown to support more than $150 billion in assets from a number of leading players and has more than doubled its global headcount to over 850 staff across offices in New York City and Hyderabad, India.
“We appreciate the additional vote of confidence demonstrated by this investment,” said Gaurav Suri, CEO of Acesium. “J.P. Morgan has been an important client and partner to us for a number of years and we look forward to working together to bring joint solutions to market.
The investment underscores J.P. Morgan’s focus in the alternatives segment, said Teresa Heitsenrether, global head of securities at J.P. Morgan. She added that through the partnership, J.P. Morgan has offered its alternative asset manager clients solutions to their most complex operations and data management challenges.