Bowmark Capital sells financial data business, Data Explorers

Data Explorers is the leading provider of securities lending and short interest data to the global financial markets. The information it provides helps clients identify investment opportunities and manage risk.

Since Bowmark acquired the business in April 2007, Data Explorers has significantly expanded its operations, opening new offices in the US and Asia. It has also developed new products to meet the needs of a broader range of institutions including custodians, investment banks, asset managers and hedge funds.

Under Bowmark’s ownership, sales and profits have grown at a compound annual growth rate of over 30 per cent and 40 per cent respectively. In addition, staff numbers have increased from 35 to 100.

Data Explorers unique data of more than three million daily transactions sourced directly from market participants are accessible through the major platforms including Bloomberg, FactSet and Thomson Reuters.

Charles Ind, Bowmark managing partner, commented: "Data Explorers is a superb business with an outstanding management team led by Donal Smith. Over the past four years, we have worked with the company to expand dramatically the business into new geographic areas and new markets. The company is now well positioned to continue its strong record of growth as part of the Markit group."

Donal Smith, chief executive of Data Explorers, added: "With support from Bowmark Capital, Data Explorers has achieved fantastic growth over the last four years. We have more than doubled revenues and tripled profitability with new product innovation and expansion into Europe, North America and Asia. Data Explorers is now the leading provider of data and analytics to the entire securities finance market from agent lenders through to hedge funds and our services are a great fit with those offered by Markit."