Alternative fund administrator Alter Domus has purchased Solvas, a software platform that provides loan and debt servicing to asset managers and trustees.

Solvas was acquired from Deloitte, which developed the software over the last 20 years.

In addition to loan and debt servicing, it provides accounting, modelling and credit risk services to asset managers active in the collateralised loan obligation market.

According to Alter Domus CEO Doug Hart, the acquisition will better allow the firm to “meet private capital’s relentless demand for better data and technology to support their decision-making process”.

The majority of Solvas’s 200-plus employees have joined Alter Domus’s data and analytics unit as a part of the transaction. No financial details of the deal were disclosed.

For Luxembourg-based Alter Domus, it is the third acquisition in as many years following the purchase of credit data offering Credit-Vision and US-based fintech IEA.

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