NEW YORK, May 5, 2015 – Vidrio Financial LLC (“Vidrio”), a leading financial technology services company providing institutional investors managing investments in alternative assets with a state of the art all inclusive investment management solution, today announced that an affiliate of XL Group plc (NYSE:XL), the parent company of XL Catlin insurance and reinsurance subsidiaries, has made a strategic minority investment in Vidrio. Proceeds will be used for investment in the business to accelerate the Company’s growth initiatives. In conjunction with this transaction, XL has also entered into a multi-year service agreement to utilize the Vidrio platform.
The Vidrio platform serves a broad range of institutional investors with a suite of integrated data services and tools covering the full investment management life cycle from initial manager research and selection to sophisticated risk and exposure analytics, trade management, valuation, reconciliation and reporting. Unlike other solutions, Vidrio has integrated rich data collection and management services, powerful software analytics and functionality and a fully customizable web interface for 24/7 system access anytime anywhere in the world. The payoff for clients are solutions to tough data management challenges, reduced operational costs and risks and easy system access and control enabling better decision support and smarter investments.
“We are very proud of the success achieved in little over three years and of the trust we have earned with our clients which include some of the largest and most experienced investors in alternative assets” said Vidrio’s founder and CEO Mazen Jabban. “We are delighted to have the opportunity to accelerate the growth of our business through the investment of a seasoned institutional investor that has an outstanding reputation and a long term view. This strategic investment provides an important validation of the revolutionary solution provided by Vidrio and adds XL’s business-building experience to Vidrio’s current capabilities.”
Thomas Burke, EVP & Head of Alternatives for XL, said: “We believe the Vidrio team has developed a leading-edge product that uniquely addresses a broad range of the needs of institutional allocators in the alternative investment space, and in a flexible and integrated manner. We are very enthusiastic about working with the Vidrio team to further support the growth of their business.”
As part of Vidrio’s new market initiatives the company has also re-launched its website to better reflect the enhanced suite of solutions now offered on the Vidrio platform. “Re-launching the website reflects Vidrio’s continual enhancement of our platform to meet the needs of our clients. The new website helps clients understand better how they can utilize Vidrio’s data services and analytical tools to complement or replace existing systems and tools in order to achieve their relevant revenue, operational and expense goals.” commented Vidrio’s President Federico De Giorgis.
ABOUT VIDRIO FINANCIAL
Vidrio is the first technology enabled service for allocators - providing software and data services to institutional investors globally. Vidrio’s data aggregation and analytics help solve complex fund management problems, improve operational efficiency and reduce risk for multi-asset-class portfolio investors. Our clients are the world’s premier allocators to external managers.
ABOUT XL GROUP PLC
XL Group plc (NYSE:XL), through its subsidiaries, is a global insurance and reinsurance company providing property, casualty and specialty products to industrial, commercial and professional firms, insurance companies and other enterprises throughout the world. XL is the company clients look to for answers to their most complex risks and to help move their world forward. To learn more, visit xlcatlin.com