Apax Global Alpha to Invest EUR25m in Finastra's Treasury and Capital Markets Division

Strategic Insights -

Apax Global Alpha (AGA) is set to invest approximately EUR25m into the Treasury and Capital Markets (TCM) division of Finastra, following its acquisition by the Apax XI Fund. This significant investment is expected to benefit the rebranded TCM, a well-established provider of financial services software, as it operates as a standalone entity. With its flagship products, Kondor, Summit, and Opics, used by over 340 financial institutions globally, TCM is poised to benefit from targeted investment in product development, marketing, and cloud-based technology infrastructure.

Key Takeaways:

  • AGA expects to invest approximately EUR25m on a look-through basis into TCM, a division of Finastra, following the acquisition by the Apax XI Fund.
  • The transaction, announced by Apax XI on May 19, 2025, will see the carve-out and rebranding of TCM, which will operate as a standalone entity post-completion in the first half of 2026, subject to customary approvals and consultation processes.
  • TCM is a well-established provider of financial services software, supporting over 340 financial institutions globally with risk management, compliance, and capital markets operations.
  • TCM's flagship products, Kondor, Summit, and Opics, are used across the trade lifecycle, and the business benefits from deep client integration and decades of intellectual property.
  • As a newly independent platform, TCM is expected to benefit from targeted investment in product development, marketing, and cloud-based technology infrastructure.
  • The Apax Funds bring a strong track record in both software and carve-outs, with relevant experience from investments in Paycor, Zellis Group, and ECi Software.
  • AGA's exposure to the deal stems from its commitment of approximately $700m to the Apax XI Fund.

Statistics:

  • EUR25m (approximately) - expected investment by AGA into TCM
  • $700m (approximately) - AGA's commitment to the Apax XI Fund
  • 340 - number of financial institutions globally that use TCM's flagship products
  • EUR (approximately) - currency of the investment
  • May 19, 2025 - date of the announcement by Apax XI
  • 2026 (first half) - expected completion period, subject to customary approvals and consultation processes
  • 19 May 2025 (DD/MM/YYYY) - date mentioned in the announcement

Sources:

  • Apax Global Alpha (AGA)
  • Association of Investment Companies
  • Apax XI Fund
  • Finastra
  • TCM (Treasury and Capital Markets division of Finastra)