Global Buyside Spending on "Alt Data" Projected to Hit $900 Million by 2021
NEW YORK and DUBLIN, Dec. 17, 2019 /PRNewswire/ -- Eagle Alpha, the largest global aggregator of alternative data, today announced its continued growth across multiple verticals as 2019 comes to a close. The firm saw its client list grow by 84% as it has entered new verticals to include private equity and corporate buyers, complementing the firm's extensive relationships with buyside firms.
Founded in 2012, Eagle Alpha is one of the most established alternative data pioneers with access to more than 1,150 datasets - up three-fold since 2016. The firm has long provided solutions for top buyside clients including five of the world's ten biggest hedge funds (ranked by AUM).
"The next year is going to be pivotal for the alternative data business," said Eagle Alpha founder and CEO Emmett Kilduff. "We expect there will be more than 5,000 global alternative datasets of relevance to buyers by the end of 2020." he said. "We're investing heavily in our technology and our team to prioritize the datasets, analysis and support that provide the most value."
Among the three buyer verticals, increasing demand levels are predicted. Spending within the alternative data market by buyside firms is projected to top $900 million by 2021, nearly double 2017 levels, according to Aite Group. Spending by private equity on alternative data is also expected to rise. On the corporate side, revenue from big data and analytics is projected to jump nearly 45%, according to IDC Worldwide.
"Thanks to our best-in-class team, market-leading access to global alternative datasets and sophisticated technological and analytical tools, we are well positioned to continue on our growth path as demand for alternative data continues to surge," said Mr. Kilduff.
The firm expanded its footprint to new verticals by adapting and leveraging the Eagle Alpha Data Machine. The Data Machine is comprised of unique alternative data know-how, networks, processes, technologies and solutions to connect sophisticated data vendors and buyers in the corporate and private equity sectors while providing proprietary solutions for both verticals.
Among the new products and services Eagle Alpha launched this year for private equity investors, for example, is a suite of products that includes Data Sourcing, Deal Origination, and Post-Acquisition portfolio company monitoring. The firm also created a due diligence solution, the first and only offering that gives private equity firms access to alternative data on a per-company and pay-as-you-go basis rather than requiring annual subscriptions to entire datasets.
Eagle Alpha also launched Alpha Capture, the first tool to help buyside firms identify and prioritize datasets that deliver actionable, alpha-generating data, as well as Ticker Signals, a tool to analyze investor attention towards the largest US stocks.
"Eagle Alpha has provided substantial insight into new frontiers of alternative data and through our partnership with them we have been able to dramatically scale our footprint in this critical component of our research," says BlueShift Asset Management CEO Mani Mahjouri, previously of AQR Asset Management where he was hire #12.
In anticipation of continuing growth in demand for alternative data, Eagle Alpha has expanded its team by a third over the last year including a 40% increase in data science and engineering specialists.
Eagle Alpha also welcomed two new board members in 2019: Elizabeth Pritchard and Dale Richards. Ms. Pritchard, founder of White Rock Data Solutions LLC, previously held senior leadership roles at Goldman Sachs, AIG, and Crux Informatics. Mr. Richards, a former Quandl board member, previously held senior operating roles with First Derivatives, LakeFront Data Ventures, SunGard (now FIS), EDM Council, FAME Information Services and Benton Associates. Eagle Alpha's other board members include Gawn-Rowan Hamilton, Co-founder & CFO of MergerMarket Group.
About Eagle Alpha
Established in 2012, Eagle Alpha is the pioneer connecting the universe of alternative data. Its solutions are used by buy side firms, private equity firms and corporates to make data-driven investment and business decisions. With over 1,150 datasets Eagle Alpha has the largest alternative data marketplace globally. With its suite of products, the firm delivers more solutions, to more alternative data challenges than any other alternative data company.
Solutions for data buyers include Data Sourcing, Data Analytics, Data Strategy and Bespoke Projects. To learn more about Eagle Alpha's solutions for buyers (buyside, private equity and corporates) visit www.eaglealpha.com
Solutions for data vendors include Freemium, Sales Referrals (Standard), Vendor License, Private Equity DD Club, Dashboards and Joint Ventures. To learn more about Eagle Alpha's solutions for vendors visit www.eaglealpha.com
SOURCE Eagle Alpha