Canoe said it has identified strong demand across its client base for access to asset-level data to solve several core use cases, including exposure analysis, portfolio analysis, and due diligence. Within the Canoe Data Innovation Hub, a cross-functional team of strategists, product managers, engineers, and growth experts are partnering with 13 Canoe clients across firm types, geographies and strategies to design and build its product offering, Canoe Asset Data.

The design partnership addresses the challenges clients face, where they often rely on manual, time-consuming methods to access and analyze asset-level data, the firm said in a statement. Canoe's aim is to deliver a scalable, cost-effective solution that complements the company’s existing offerings and approach.

"We are acutely aware of the evolving landscape in alternative investments and the need for greater data granularity, including both fund and asset-level data. Delivering both is a significant component of our mission: to provide complete transparency to our clients, and allow them to revolutionize the way they manage their portfolios," Jason Eiswerth, CEO of Canoe Intelligence, said.

Given the complexity and diversity of alternative investments, having access to accurate and comprehensive asset-level data is essential for achieving transparency, managing risk, and ultimately achieving investment objectives in the alternative investment space, the firm added.

Canoe Asset Data is set to be commercially available in the first quarter of 2024, following the conclusion of the design partnership program and beta release, the firm continued.

Canoe, which has expanded its global operations over the past 12 months, increasing its headcount to 125 employees worldwide, has opened a new London office as the business extends its reach into Europe. See more here.