ACERA Taps Clearwater Analytics to Transform Data Validation and Simplify Total Plan Reporting

Rhea-AI Summary

Clearwater Analytics (NYSE: CWAN) has been selected by the Alameda County Employees' Retirement Association (ACERA) to provide data validation, shadow book of record accounting, and total plan reporting for their investment portfolio. The partnership aims to enhance ACERA's alternative assets management, which now represents over 35% of public pension funds' portfolios.

The Clearwater platform, equipped with Generative AI capabilities, will automatically aggregate and validate data across multiple sources, identifying anomalies and streamlining operational processes. Key benefits include improved accuracy for decision-making, reduced risk through real-time data validation, enhanced operational efficiency, and simplified total plan reporting with automated Investment Committee and Board Reports.

Positive

• Selected by ACERA for comprehensive investment portfolio management
• Platform will manage portion of $7.3 trillion in assets under administration
• Expansion into public pension fund sector with growing alternative assets

Negative

• None.

Insights

Financial Technology Analyst

This partnership represents a significant business win for Clearwater Analytics in the public pension fund sector. By securing ACERA as a client, CWAN strengthens its position in managing complex alternative investments data, which is becoming increasingly important as pension funds allocate more assets to alternatives. The deal highlights CWAN's competitive advantage in AI-enhanced data validation and reporting capabilities.

The partnership will contribute to CWAN's recurring revenue stream, as the company operates on a SaaS model managing $7.3 trillion in assets. The implementation of their platform for ACERA's total plan reporting demonstrates the scalability of their solution and potential for similar deals with other pension funds. Their ability to handle complex alternative investment data positions them well in a market where pension funds are increasing alternative asset allocations beyond 35% of their portfolios.

Market Research Analyst

This deal signals Clearwater's strategic expansion in the public pension fund market, a sector with significant growth potential given the increasing complexity of pension fund portfolios. The implementation of their platform at ACERA serves as a valuable reference case for targeting other pension funds facing similar operational challenges with alternative investments.

The emphasis on their embedded Generative AI capabilities showcases Clearwater's technological edge in automating complex data processes. This competitive advantage is particularly relevant as the industry struggles with manual data handling and validation processes. The company's ability to address these pain points while managing substantial asset volumes positions them favorably for capturing more market share in the institutional investment space.

BOISE, Idaho--(BUSINESS WIRE)-- Clearwater Analytics (NYSE: CWAN), a leading worldwide provider of investment management, accounting, reporting, and analytics solutions, has been chosen by the Alameda County Employees’ Retirement Association (ACERA) to provide data validation, shadow book of record accounting, and total plan reporting across its entire investment portfolio, including its alternative assets.

Public pension funds have significantly increased their allocation to alternative assets, now comprising over 35% of their investment portfolios. This complex data must be gathered and collated from multiple sources. ACERA will leverage the Clearwater platform with embedded Generative AI capabilities to automatically aggregate and validate data across multiple sources and formats and identify and escalate data anomalies or failures.

ACERA Investment Operations Officer Serafin Lim stated, “The Clearwater Platform delivers accurate data reporting and a robust validation process for ACERA. As our Total Fund continues to grow and evolve to ensure long-term benefits for plan members, Clearwater’s innovative solutions enhance data integrity, streamline processes, and bring greater visibility into our alternative investment portfolios. This partnership will help us reduce risk, increase efficiency, and focus on managing the Total Fund effectively.”

Benefits to ACERA include:

• Improved accuracy and analysis to drive better operational and investment decision-making
• Reduced risk with real-time data validation and improved reporting
• Greater operational efficiency and resource optimization
• Simplified and accurate process for Total Plan Reporting with automated, accurate, monthly and/or quarterly Investment Committee and Board Reports
• Convenient, accessible engagement with data with immediate responses to even complex queries

“The complexity and volume of the data needs for alternative investments make it impossible to sufficiently scale existing operational resources without using excellent technology boosted by generative AI. We are thrilled that ACERA trusts us to partner with them to streamline their operational processes and achieve total plan reporting as they expand their alternative investment portfolio,” explains Scott Erickson, Chief Revenue Officer at Clearwater Analytics.

Contact an expert today for more information about Clearwater Analytics and how our solutions can support your organization.

About Clearwater Analytics

Clearwater Analytics (NYSE: CWAN), a global, industry-leading SaaS solution, automates the entire investment lifecycle. With a single instance, multi-tenant architecture, Clearwater offers award-winning investment portfolio planning, performance reporting, data aggregation, reconciliation, accounting, compliance, risk, and order management. Each day, leading insurers, asset managers, corporations, and governments use Clearwater’s trusted data to drive efficient, scalable investing on more than $7.3 trillion in assets spanning traditional and alternative asset types. Additional information about Clearwater can be found at clearwateranalytics.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241204697219/en/

Media:

Claudia Cahill, Head of Communications and PR | +1 208-433-1200 | press@clearwateranalytics.com

Source: Clearwater Analytics

FAQ

What services will Clearwater Analytics (CWAN) provide to ACERA?

Clearwater Analytics will provide data validation, shadow book of record accounting, and total plan reporting across ACERA's entire investment portfolio, including alternative assets.

How does Clearwater Analytics (CWAN) use AI in its platform for ACERA?

Clearwater's platform uses Generative AI capabilities to automatically aggregate and validate data across multiple sources and formats, identifying and escalating data anomalies or failures.

What percentage of public pension funds' portfolios are now in alternative assets according to Clearwater Analytics (CWAN)?

According to the press release, public pension funds have significantly increased their allocation to alternative assets, now comprising over 35% of their investment portfolios.