Proteus Announces Partnership with 1834, a Division of Old National Bank, to Elevate Alternative Investment Offerings

Rhea-AI Summary

Proteus (PROT) has been chosen by 1834, a division of Old National Bank, as their alternative investment platform partner, marking a significant milestone in tailoring a custom-made alternative investing platform to cater to the evolving needs of 1834's expanding client base. The collaboration aims to enhance 1834's suite of alternative investment offerings, providing clients with access to a curated selection of investment opportunities including private equity, private credit, private real estate, hedge funds, and real assets. Proteus' innovative, evergreen feeder structure and ability to implement alternative model portfolios were key factors in their selection as a strategic partner. The partnership underscores Proteus' commitment to delivering cutting-edge technology and comprehensive support to its clients, integrating with 1834's existing infrastructure to provide a user-friendly interface for advisors and clients alike.

Insights

Financial Analyst

The partnership between Proteus and 1834 represents a strategic move to enhance the latter's offerings in alternative investments, a category that includes non-traditional assets such as private equity, private credit and real estate. This collaboration is indicative of a growing trend within wealth management where there is a shift towards diversification beyond traditional stocks and bonds, particularly for high-net-worth individuals and institutional investors.

From a financial perspective, such partnerships can potentially lead to increased revenue streams for both entities. For 1834, access to Proteus's technology and investment structures could attract new clients and retain existing ones by offering a broader range of investment options. For Proteus, the deal with 1834 expands its market reach and solidifies its position in the competitive landscape of investment platforms.

However, the success of this initiative will depend on the actual performance of the alternative investments and the ability of the platform to integrate seamlessly with 1834's existing services. It's also important to consider the higher fees and complexity associated with alternative investments, which could be a limiting factor for some investors.

Market Research Analyst

Alternative investments are gaining traction as investors seek to mitigate risk and enhance returns in the face of market volatility. The partnership between Proteus and 1834 is a response to this demand, potentially positioning 1834 to capitalize on market trends. By offering a tailored platform, they are likely to appeal to a segment of investors who are looking for personalized investment strategies and a wider array of asset classes.

The collaboration is also a reflection of the technological advancements within the financial sector. Proteus's focus on an evergreen feeder structure and alternative model portfolios suggests a forward-thinking approach that could set a new standard in the industry. If successful, this could pressure competitors to innovate similarly, thereby influencing the direction of financial services technology.

However, the effectiveness of the partnership will ultimately be measured by its adoption rate among 1834's client base and the performance of the alternative assets within the platform. It's crucial to monitor client feedback and the adaptability of the platform to evolving market conditions.

Technology Analyst

The integration of Proteus's platform with 1834's infrastructure is a noteworthy development in the fintech space, emphasizing the importance of user experience and technological adaptability in financial services. The user-friendly interface is expected to streamline the investment process for advisors and clients, which could lead to increased engagement and satisfaction.

Proteus's innovative feeder structure is designed to facilitate scalability, a critical factor for 1834 as it seeks to expand its client base and investment offerings. The capacity to implement alternative model portfolios showcases a level of customization that is increasingly demanded by sophisticated investors.

The long-term success of this technological integration will hinge on its security, reliability and the ability to evolve with changing market demands. As such, continuous investment in technology and a commitment to innovation will be essential for maintaining a competitive edge in the rapidly evolving digital finance landscape.

INDIANAPOLIS, Jan. 9, 2024 /PRNewswire/ -- Proteus, a leading alternative investment platform for investment managers, proudly announces its recent selection by 1834, a division of Old National Bank This collaboration marks a significant milestone as Proteus tailors a custom made alternative investing platform to cater to the evolving needs of 1834's expanding client base.

1834, the specialized division of ONB known for its highly consultative, boutique-style approach, focuses on meeting the diverse financial needs of high-net-worth individuals and institutions. By choosing Proteus as their strategic partner, 1834 aims to enhance its suite of alternative investment offerings, providing clients with access to a curated selection of investment opportunities including private equity, private credit, private real estate, hedge funds and real assets.

"We are thrilled to be chosen by 1834 as their alternative investment platform partner," said Jason Brown, Founder and CEO at Proteus. "This collaboration exemplifies our commitment to empowering investment managers and institutions with innovative solutions that align with the unique objectives of high-net-worth clients."

This partnership underscores Proteus' dedication to delivering cutting-edge technology and comprehensive support to its clients. The customized solution developed for 1834 integrates with their existing infrastructure, providing a user-friendly interface for advisors and clients alike.

"Proteus stood out to us as a leader in the space because of their flexibility. Proteus' innovative, evergreen feeder structure will allow us to scale our alternative platform quickly and efficiently while their ability to implement alternative model portfolios is unique in this market," remarked Jim Steiner, Chief Investment Officer at 1834.

Learn more about 1834 at 1834.com.

ABOUT OLD NATIONAL

Old National Bancorp (NASDAQ: ONB) is the holding company of Old National Bank, which is the sixth largest commercial bank headquartered in the Midwest. With approximately $49 billion of assets and $28 billion of assets under management, Old National ranks among the top 30 banking companies headquartered in the U.S. Tracing our roots to 1834, Old National Bank has focused on community banking by building long-term, highly valued partnerships with clients and in the communities it serves. In addition to providing extensive services in retail and commercial banking, Old National offers comprehensive wealth management, investment, and capital market services. For more information and financial data, please visit Investor Relations at oldnational.com.

Investment instruments utilized by 1834 (i) are not insured by the FDIC nor any other government agency, (ii) are not deposits or other obligations of 1834, Old National Wealth Management, Old National Bank, its parent company or affiliates, and (iii) involve investment risk including the possible loss of principal invested.

ABOUT PROTEUS

Proteus provides an alternative investment platform. The platform provides access to institutional-quality investment opportunities, including private funds, alternative investment model portfolios, and sub-asset class pools which invest across the alternative investment strategy spectrum. Investment managers use the platform to research alternative investment managers and investments, review due diligence materials, and construct custom portfolios, thereby eliminating significant hurdles and inefficiencies that have plagued alternative investors for decades. Proteus, LLC is registered as an investment adviser with the SEC. Registration with the SEC does not imply a certain level of skill or training.

*Proteus and Old National are unaffiliated companies. No compensation was shared for endorsements herein.

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SOURCE Proteus, LLC

FAQ

What is the name of the company chosen by 1834 as their alternative investment platform partner?

Proteus (PROT) has been chosen by 1834 as their alternative investment platform partner.

What are the investment opportunities that 1834's clients will have access to through this collaboration?

1834's clients will have access to a curated selection of investment opportunities including private equity, private credit, private real estate, hedge funds, and real assets.

What were the key factors in Proteus being selected as a strategic partner by 1834?

Proteus' innovative, evergreen feeder structure and ability to implement alternative model portfolios were key factors in their selection as a strategic partner.

What does the partnership between Proteus and 1834 signify?

The partnership signifies Proteus' commitment to delivering cutting-edge technology and comprehensive support to its clients, integrating with 1834's existing infrastructure to provide a user-friendly interface for advisors and clients alike.