Neovest acquires LayerOne Financial

Orem, Utah, March 1, 2024

Neovest, Inc. announced today that it has completed the acquisition of LayerOne Financial, a leading investment management platform.  LayerOne Financial is the creator of PortfolioOne - a comprehensive, cross-asset platform designed to address the current, real-world operational challenges facing hedge funds of many sizes and styles. 

The strategic acquisition of LayerOne Financial will allow Neovest to offer integrated portfolio, order, and execution management services through a unified platform. The enhanced Neovest platform will be available to the hedge fund industry in a modular framework, enabling them to deploy the full platform throughout their operations or seamlessly integrate specific modules with their current systems. Both organizations prioritize modularity and an open platform approach, which has contributed to their respective successes. This combined solution will cover the full investment process, empowering clients to monitor portfolios, conduct risk assessments, send orders to their brokers, perform necessary compliance checks, and efficiently manage their positions.

Jimmi Shah, Neovest CEO said, “We are excited to acquire LayerOne Financial to enhance our offering and support our clients in finding efficiencies in their investment operations. Following this acquisition, Neovest can enable clients to manage their full investment lifecycle with one software provider with industry-leading capabilities. Neovest’s key objectives are creating an exceptional client experience from on-boarding to trade execution management and expanding our product capabilities to advance and differentiate from other investment management platforms. LayerOne’s technology and people are perfectly placed to help us on this journey.”

Kyle Zasky, LayerOne Financial CEO, said “Our mission is to deliver innovative and customer-centric products that provide a wide range of critical operational capabilities and insights for clients. The strategic combination of Neovest and LayerOne solidifies our ability to offer a powerful, cohesive and holistic offering. We are so proud of our team and are excited to become part of Neovest. It’s the right next step for our people, our clients and our business.”

Neovest was advised by J.P. Morgan Securities, LLC as financial advisor and Gibson, Dunn & Crutcher LLP as legal counsel.  LayerOne Financial was advised by SenaHill Partners, LP as financial advisor and Morgan, Lewis & Bockius LLP as legal counsel.

For all product inquiries please contact sales@neovest.com

About Neovest, Inc.
Neovest, Inc., a wholly owned subsidiary of JPMorgan Chase, is a global, multi asset, broker neutral order and execution management platform with 500+ clients, 4,000+ users and connectivity to 350+ global brokers.  As an independently operated technology company, Neovest provides a fully integrated front-to-back solution leveraged by the industry's most advanced buy-side clients.

About LayerOne Financial
LayerOne Financial is an independent spin-out from Fortress Investment Group, premier global investment management firm.  It was there, over many years, that a wide range of real-world, front-to-back office, business and technical challenges were conquered across the traditional and alternative asset management businesses.  This unique experience culminated in the development of PortfolioOne - a comprehensive, cross-asset-class investment management platform designed to address the needs of the most complex and sophisticated asset managers in the world.