Alternative Investment Exchange, a financial services technology services provider, has launched a technology platform for the alternative investment industry. Following a soft launch in fall 2019, the platform began providing services to seven institutional clients and is now available to wealth and asset managers.
AIX said the platform will enable straight through processing, reduce compliance and other risks, and enhance transparency. The company claims to help sponsors, broker-dealers, RIAs and wirehouses uncover new opportunities by “connecting previously unconnected data.”
Started in Philadelphia, AIX was designed by alternative investment managers and technologists and spun out of FS Investments, an alternative asset manager and sponsor of non-traded business development companies and real estate investment trusts.
AIX is led by Joseph Ujobai, who joined the company as CEO in May 2019. He previously spent more than 25 years at SEI Investments, most recently as executive vice president and head of its private banking business. He also served as founder and CEO of SEI Investments (Europe) Limited in London.
“AIX is designed to address the two biggest challenges facing the industry – the ease of doing business and the management of risk,” said Ujobai. “But the platform goes beyond that by automating and connecting the entire alternative investment lifecycle, empowering financial advisors and sponsors to better utilize data to serve their clients and drive growth.”
In addition, Brad West and Sara Murphy have been named AIX’s chief operating officer and head of platform solutions, respectively.
Prior to joining AIX, West spent more than seven years at FS Investments in various leadership roles across technology and operations, most recently serving as chief information officer. Murphy also joined AIX after more than five years at FS Investments, most recently serving as director of digital solutions and strategy.
Alternative Investment Exchange employs more than 30 people and is based in the Philadelphia Navy Yard.