Challenger, an investment management firm, and SimCorp, a SaaS investment management solutions provider, agreed to launch a new joint venture to form a cloud-based front-to-back investment operations platform. Financial terms were not disclosed. “This initiative builds on a 17-year partnership and is another example of the industry shifting to cloud-based, tech-enabled services business model. We have seen Challenger achieve best in class efficiency through automation and optimizing their usage of our platform and are excited to be able to offer this now to the broader market as firms look to focus on their core. The combination of Challenger’s experienced operations team, along with SimCorp’s technology and service offerings gives customers a unique opportunity to take advantage of the best of both worlds," Oliver Johnson, SimCorp CCO.