Liechtenstein-based Center for Social and Sustainable Products (CSSP) has been bought by fund data and technology provider FE fundinfo.
FE fundinfo has acquired all of the share capital in CSSP; including its yourSRI.com platform, which provides ESG screening and label to thousands of funds.
The acquisition will see CSSP founders Oliver Oehri and Cristoph Dreher co-head the ESG product group at FE fundinfo.
Describing CSSP’s ESG reporting capabilities as “state of the art”, FE fundinfo said the company “will bring another important capability to FE fundinfo’s existing range of services, which help fund managers and distributors access accurate data and fulfil their regulatory obligations”.
Financial details of the transaction were not disclosed.
Promoting and supporting ESG
Commenting on the acquisition, Philipp Portmann, head of business development & strategy at FE fundinfo, said: “At a time when ESG investing and reporting is rapidly becoming the major consideration for the investment industry, our acquisition of CSSP will enable us to expand upon our driving principle of connecting and supporting the global fund industry, through both a deep understanding of the market and the provision of clear, accurate and transparent data and reporting.
“Oliver and Christoph are renowned within the ESG space and their vision of just how important ESG investing will become, alongside their ambition to support investors to make better informed decisions, clearly matches our own.”
CSSP co-founder Oehri and Dreher added: “We are delighted to be joining the FE fundinfo team at a pivotal moment in the evolution of ESG investing.
“The reporting on extra-financial criteria has gained in importance in recent years and investors are rightfully asking for multi-dimensional risk assessments at portfolio level to effectively measure the corresponding exposure.”
Hamish Purdey, chief executive at FE fundinfo, said: “Promoting and supporting ESG investing is at the heart of our strategic aims as a company, and as we move forward and further develop our reporting and analytical capabilities, CSSP’s expertise and services will play an important role in complementing our own, helping to support our next phase of growth and further empower our clients’ success.”