Investor Economics acquired by Asset InternationalBy Donna Glasgow | March 12 2013 08:40PM
Investor Economics, a financial services industry research firm headquartered in Toronto, has been acquired by Asset International, a New York-based, global provider of business research that is backed by private equity firm Austin Ventures.
Earl Bederman, CEO of Investor Economics, said it will be business as usual for the firm's clients which include “every significant provider of financial services in Canada,” including banks, insurers, fund companies and the federal government. He says the firm’s team of about 30 employees will continue in their roles and the name Investor Economics will not be changed.
Mr. Bederman will continue to lead Investor Economics and says his employment arrangement has no end date and he hopes that it will continue for a long period of time. His title with Investor Economics will remain the same and he also has an additional title: vice chair for North America of Asset International.
Mr. Bederman added that when they were informed of the acquisition, some key clients expressed “their desire for no change” in the services offered by Investor Economics, although some indicated that they would be interested in tapping into the knowledge and expertise offered outside Canada by Asset International. “It will be the status quo in Canada and plus, plus, plus in terms of access to research outside Canada.”
Why did he decide to sell the firm that he founded 21 years ago? “It was the right thing to do at the right time.” Mr. Bederman added that he knows he cannot continue in his role forever and this decision was a way “to ensure that the path forward would be a good one for the people who have made the business what it is today and what it has become to our clients.”
Investor Economics will become part of Asset International’s Strategic Insight division, a supplier of data, tools and research to the global asset management industry.
In a company announcement about the acquisition, Jim Casella, Asset International’s CEO, noted that Investor Economics and Strategic Insight have a longstanding relationship and recently finished a joint research project together for the Investment Funds Institute of Canada.