Public Employee Retirement System of Idaho (PERSI) Chooses Clearwater Analytics for Multi-Asset Investment Data Aggregation Solution

Rhea-AI Summary

Clearwater Analytics (NYSE: CWAN) announced on May 4, 2022, that the Public Employee Retirement System of Idaho (PERSI) has chosen its SaaS platform for investment data aggregation and reporting. PERSI, managing over $23 billion in assets for more than 170,000 individuals, aims to enhance efficiency by eliminating manual reporting. Clearwater's solution will provide daily multi-asset data aggregation and independent shadow valuation, improving transparency and allowing PERSI to focus on fund performance. Clearwater serves over 1,100 clients and automates reporting for $5.9 trillion in assets.

Positive

• PERSI selected Clearwater to automate investment reporting, enhancing efficiency.
• Clearwater's platform will provide daily multi-asset data aggregation and shadow valuation for improved transparency.
• The contract with PERSI expands Clearwater's service offerings to a significant retirement fund managing over $23 billion.

Negative

• None.

BOISE, Idaho, May 4, 2022 /PRNewswire/ -- Clearwater Analytics (NYSE: CWAN), a leading provider of SaaS-based investment accounting, reporting, and analytics solutions, announced today that the Public Employee Retirement System of Idaho (PERSI) has selected the Clearwater Analytics SaaS platform for its investment data aggregation and reporting needs.

PERSI serves more than 850 employer organizations and more than 170,000 individuals in the State of Idaho, with more than $23 billion in assets under management (AUM). PERSI selected Clearwater to eliminate manual investment reporting and to automate data aggregation and validation to improve efficiency and control for PERSI. In addition, Clearwater will provide independent shadow valuation that will result in greater transparency for their investment, accounting, and operations teams.

"Clearwater will provide PERSI with multi-asset data aggregation, validation, reconciliation and reporting, on a daily basis across the total portfolio, which has never been possible before," said Bob Maynard, Chief Investment Officer, PERSI. "With Clearwater's shadow accounting and valuation capabilities we will now be able to better focus our resources on fund performance and growth to ensure the financial security of our members."

"We are honored that PERSI has entrusted Clearwater to manage their investment data aggregation and reporting needs for the pension plan that carefully invests funds for so many of our friends and family members across Idaho," said Scott Erickson, President, Americas and New Markets at Clearwater. "Our comprehensive data management platform comprising of Clearwater Accounting and Clearwater Prism is uniquely positioned to address the needs of asset owners. By enabling a total plan view across public and private markets, pensions like PERSI achieve consistent and efficient operations and the ability to grow their AUM without otherwise costly manual work."

About Clearwater Analytics

As the industry-leading SaaS solution for investment accounting and reporting, Clearwater enables growth of assets under management (AUM) for more than 1,100 clients including pension plans, governments, global insurers, asset managers, and corporations. Each day, Clearwater automates data collection, reconciliation, compliance, risk, and performance reporting across $5.9T of AUM with its comprehensive cloud platform and best-in-class service team. Additional information about Clearwater can be found at clearwateranalytics.com, LinkedIn, and Twitter.

View original content to download multimedia:https://www.prnewswire.com/news-releases/public-employee-retirement-system-of-idaho-persi-chooses-clearwater-analytics-for-multi-asset-investment-data-aggregation-solution-301540070.html

SOURCE Clearwater Analytics

FAQ

What significant contract did Clearwater Analytics announce on May 4, 2022?

Clearwater Analytics announced that PERSI has selected its SaaS platform for investment data aggregation and reporting.

How much assets under management does PERSI oversee?

PERSI manages over $23 billion in assets.

What are the benefits of Clearwater's platform for PERSI?

The platform will eliminate manual reporting, automate data aggregation, and provide independent shadow valuation.

How many clients does Clearwater Analytics serve?

Clearwater Analytics serves over 1,100 clients.

What total assets does Clearwater's platform automate reporting for?

Clearwater automates reporting for $5.9 trillion in assets.