Independent information services company Alerian, which developed the Alerian MLP Index widely used as a benchmark for midstream master limited partnerships, acquired custom index developer S-Network Global Indexes Inc.
The index-linked assets under management of the two companies' combined suite of indexes will be $20 billion, according to a Dec. 9 news release. Through the acquisition, Alerian will be able to provide indexing solutions and services covering global equity markets and specialty sectors.
Alerian CEO David LaValle will lead both Alerian and S-Network Global, which will remain in their current headquarters in Dallas and New York, respectively. Closing of the deal is expected to occur before Jan. 1, 2020.
Alerian provides indexing, research and data services to asset managers and investment professionals. S-Network Global currently publishes more than 300 indexes.