A consortium led by global private equity giant Blackstone has partnered with Thomson Reuters’ Financial & Risk (F&R) business.
The Blackstone-led consortium, which also features the Canada Pension Plan Investment Board and GIC, will own 55 percent of the equity in a new corporation created to hold the F&R business. Thomson Reuters will retain a 45 percent equity stake, at an overall valuation of $20bn.
Thomson Reuters F&R is a data and financial technology platform that provides critical information and data analytics, enables financial transactions, and connects communities of trading, investment, financial and corporate professionals. It also provides regulatory and risk management solutions to help customers anticipate and manage risk and compliance.
Martin Brand, a senior managing director at Blackstone, said: “We are excited to partner with Thomson Reuters – one of the most trusted companies in financial technology. The F&R division has tremendous assets, including a world-leading data business, essential risk and compliance solutions, OTC trading venues, wealth management software, and a strong desktop business. The partnership with Blackstone provides an opportunity to increase efficiency and accelerate revenue growth through innovation and focus on creating uniquely compelling products for F&R’s customers.”
Canson Capital Partners, BofA Merrill Lynch, Citigroup, and J.P. Morgan are acting as financial advisors to the Blackstone-led consortium, and Simpson Thacher & Bartlett is acting as legal counsel to the Blackstone-led consortium. Debt financing related to the transaction is being provided by J.P. Morgan, BofA Merrill Lynch, and Citigroup. Dechert LLP is acting as legal counsel to GIC.
Earlier this year, Thomson Reuters, the multinational mass media and information firm, went live with key MiFID II services.
The new services are part of the group’s aim of providing a comprehensive suite of solutions to assist the industry with ensuring ongoing compliance with MiFID II requirements. It services include MiFID II compliant data available to clients from 57 global exchanges and eight new MiFID II trading and reporting venues, including Tradeweb’s Approved Publication Arrangement (APA) and MTS BondVision’s Multilateral Trading Facility (MTF).
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
