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Morgan Stanley’s 1GT Invests in AI-Focused Analytics Startup: Tech Roundup

By Jeff Berman

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What You Need to Know

  • Morgan Stanley Investment Management's 1GT climate private equity strategy co-led a $50 million Series B funding round for tech startup Everstream Analytics.
  • Advisors can now directly pull data from Orion's Redtail platform to streamline operations and deliver improved client experience as part of integration with Flourish.
  • UBS participated in the launch of the next phase in the rollout of Broadridge's blockchain-enabled Distributed Ledger Repo platform.

Morgan Stanley Investment Management (MSIM) said Tuesday its 1GT climate private equity strategy co-led a $50 million Series B funding round for technology startup Everstream Analytics, along with existing investors StepStone Group and Columbia Capital.

The Morgan Stanley division didn’t specify how much of the $50 million it contributed on its own. The company didn’t immediately respond to a request for comment.

Everstream says it applies artificial intelligence to procurement, logistics and business continuity platforms to generate accurate predictions, more complete information and sharper analysis and enable businesses to achieve a more autonomous and sustainable supply chain.

The new funding will “drive Everstream’s innovation in both operational risk and environmental, social and governance (ESG) performance to further enhance supply chain sustainability for global brands” including Abbott Laboratories, Boston Scientific Corp. and Whirlpool, Everstream and Morgan Stanley said in a joint announcement.

“We look to invest exclusively in companies that provide products or services to address time-critical carbon impact issues while meeting fiduciary obligations to their investors,” said Vikram Raju, MSIM head of climate investing and 1GT.

“This funding comes when we are doubling down on our product innovation and executing rapidly and decisively to advance supply chain sustainability, which is more critical now than ever,” added Julie Gerdeman, Everstream CEO.

Part of MSIM’s $200 billion alternative investments business, 1GT is out to make investments in companies that will collectively avoid or remove one gigaton of carbon dioxide-equivalent (CO2e) emissions from the Earth’s atmosphere from the date of the platform’s investment through 2050, the date by which the United Nations has mandated “Net Zero” must be achieved, Morgan Stanley noted.

Flourish Integrates With Redtail

The Flourish financial product platform for registered investment advisors integrated with Redtail Technology’s client relationship management software solution for advisors, the companies said in a joint announcement on Tuesday.

The Flourish platform provides access to financial products that help RIAs secure their clients’ financial futures, the firms said.

Flourish now has a direct integration with Redtail that allows RIAs to prefill Flourish application information using data stored in Redtail, the companies noted.

Advisors can also directly pull data from Redtail to “streamline operations and deliver an improved client experience,” the firms said, noting the integration is already live and in use.

“Tens of thousands of advisors leverage Redtail to manage client information and automate marketing,” Redtail noted.

Meanwhile, RIAs are using Flourish Cash to help clients earn a competitive rate on their held-away cash “while bringing assets into their orbit,” the companies said.

More than 550 RIAs managing over $1.5 trillion in combined assets use the Flourish platform, the firm said.

“Advisors, now more than ever, are demanding integration and innovation in the pursuit of solutions that will save them time and deliver a bespoke client experience,” according to David Mehlhorn, vice president of business development at Redtail.

Flourish has an existing direct-custodial integration with Orion Advisor Solutions, which acquired Redtail in 2022.

Broadridge Kicks Off Next Phase of DLR Platform

Broadridge Financial Solutions said Monday that UBS participated with it in the launch of the next phase of the rollout of Broadridge’s blockchain-enabled Distributed Ledger Repo platform.

UBS and a global Asian bank “successfully executed the first cross-border intraday repo transaction” on the DLR platform, Broadridge said.

“Continuing to build on the initial success of the platform and leveraging the growing expansion of the network across the global repo community, this is a major step forward to providing a more efficient means of intraday liquidity management,” Broadridge added.

The global expansion of the Broadridge platform across sell-side and buy-side firms will enable a “network effect of increased benefits and additional transaction types,” it said.

Savvy Direct Indexing Launches

Savvy Wealth, a digital-first platform for advisors focused on modernizing human financial advice, launched Savvy Direct Indexing, a proprietary solution it said Thursday will enable its advisors to offer tax-optimized, risk-adjusted and personalized portfolios.

The newest feature on Savvy’s integrated technology platform, Savvy Direct Indexing provides advisors with a solution to deliver tax-efficient, values-aligned portfolios that are customized to their high-net-worth clients’ unique environmental, social and governance preferences.

(Image: Shutterstock) 

Jeff Berman

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