Siepe
Overview
Siepe LLC is a Dallas, Texas-based provider of software and technology-enabled services designed specifically for private credit and collateralized loan obligation (CLO) managers. Founded in 2012 by Michael Pusateri, Siepe has established itself as a leader in the asset management technology industry, raising $30 million in a Series B funding round in August 2024, led by WestCap. The company focuses on providing innovative solutions for data management, portfolio management, risk assessment, and IT infrastructure, helping asset managers make strategic business decisions through comprehensive data analytics and cloud-based platforms.
Recent Developments
- August 2024: Siepe raised $30 million in a Series B funding round led by WestCap. The funds are aimed at expanding Siepe's AI and machine learning capabilities, strengthening strategic partnerships, and enhancing their technology solutions for private credit and CLO markets. This investment will support the modernization of operational processes and data consistency across private credit ecosystems.
- August 2024: Siepe was named to the Inc. 5000 list for the third consecutive year, showcasing its 130% revenue growth over three years and recognizing it as one of America’s fastest-growing private companies.
- February 2024: The company expanded its leadership team to bolster its CLO and fund compliance products. This strategic move is part of their ongoing effort to enhance service delivery to private credit managers.
- October 2023: Siepe appointed Mark Schultis as President. Schultis brings extensive experience from the credit and CLO sectors, previously serving as CEO at SE2 LLC and Senior Vice President at IHS Markit.
- August 2024: Siepe received recognition at the HFM US Service Awards 2024, winning in the category of Best Managed IT Service Provider.
- August 2024: Siepe secured significant growth, adding 19 CLO and private credit deals with eight top-tier US CLO managers, amounting to over $7.7 billion in new assets under administration.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2012 |
| Headquarters | Dallas, Texas, United States |
| Founders | Michael Pusateri |
| Revenue | Approximately $3 million (2024) |
| Key Investors | WestCap |
| Industry | Financial Services, Technology |
| Number of Employees | 11-50 |
Early History
Founded in 2012 by Michael Pusateri, Siepe was created to address the growing technology needs of the asset management industry. Pusateri, who previously held significant roles in technology management at Carlson Capital and Highland Capital Management, envisioned Siepe as a firm that could offer modular technology solutions to streamline investment management processes. Initially, Siepe focused on providing IT solutions tailored to hedge funds, but as the company evolved, it expanded its offerings to encompass a wide range of data management, compliance, and reporting services.
Company Profile and Achievements
Siepe offers a robust suite of services aimed at private credit and CLO managers, leveraging cloud-based platforms to integrate front, middle, and back-office functions seamlessly. The company has gained acclaim for its ability to manage complex data environments and facilitate enhanced decision-making processes:
- Comprehensive Solutions: Siepe's platform provides investment managers a consolidated view of their operations, enhancing data transparency and investment oversight.
- Data Integration: Their solutions eliminate manual processes, offering real-time data analytics that help reduce operational risks.
- Market Growth: Siepe has achieved significant market traction, supporting a large number of top-tier CLO managers and expanding their asset administration capabilities significantly.
- Industry Recognition: The firm has been consistently recognized for its innovative approach and technology leadership, receiving awards and placements on prestigious lists like the Inc. 5000.
- Strategic Partnerships: Collaborations with major investors like WestCap have fueled their growth trajectory, allowing Siepe to refine and expand its product offerings further.
Current Operations and Market Position
Siepe continues to lead in the financial technology space, particularly in managing the complexities of private credit and CLO markets. The company's competitive edge lies in its integrated technology solutions, which offer streamlined processes and data reliability. With a strong focus on AI and machine learning, Siepe is poised to enhance its capabilities even further, providing state-of-the-art services to asset managers. The company’s position in the market is solidified by its rapidly growing client base and strategic partnerships with industry leaders.
Conclusion
Siepe LLC has carved out a significant niche in the asset management technology landscape, offering innovative and effective solutions that address the complex needs of private credit and CLO managers. As the demand for efficient data management in these sectors grows, Siepe is well-positioned to capitalize on its strengths in AI, cloud computing, and strategic partnerships. With continued investment and a clear focus on customer-oriented innovation, Siepe's potential for growth and influence in the financial services industry remains robust.