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Five Arrows buys private equity-backed Rimes Technologies
The post Five Arrows buys private equity-backed Rimes Technologies appeared on BitcoinEthereumNews.com. Private equity firm EQT AB has agreed to sell Rimes Technologies to Five Arrows, Rothschild & Co.’s alternative assets division. This news, announced by EQT, involves the company and its co-shareholders selling Rimes to Five Arrows Long Term Fund (FALT) and Five Arrows Principal Investments (FAPI). EQT to sell data management tech firm Rimes to Five Arrows https://t.co/1LOFxb5884 Swedish Fintech firm EQT has agreed to sell Rimes to Rothschild & Co.’s alternative assets unit Five Arrows. — ????FinTech.CEO ????CBDCs.AI (@CryptectiveHQ) April 13, 2024 The exact sale price hasn’t been revealed, but Bloomberg News reports that the transaction values Rimes at anywhere between 800 million euros ($852 million) and 900 million euros, which includes debt. Headquartered in New York City, Rimes provides data and tools for investment management. The firm was founded in 1996 and serves some of the biggest names in asset management globally, representing over $75 trillion in assets under management. Its clients range from Bank of New York Mellon Corp. in the U.S. to Shell Plc in the U.K. The partnership between EQT and Rimes dates back to February 2020, when EQT made a strategic investment in Rimes, aiming to bolster Rimes’ regulatory technology and data management solutions. The company’s comprehensive suite of solutions includes Matrix IDM, an investment data management platform acquired in 2021, and a newly established AI product division. Five Arrows, with global assets under management exceeding 26 billion euros ($27.6 billion), operates through its long-term fund FALT and principal investments division FAPI. Brad Hunt, CEO of Rimes, expressed enthusiasm about the acquisition, noting that it will fuel Rimes’ ongoing momentum and growth trajectory. On their part, Vivek Kumar and Sacha Oshry from FAPI echoed similar sentiments, affirming their excitement about partnering with Rimes to navigate complex data challenges and drive continued success across geographies…
The post Five Arrows buys private equity-backed Rimes Technologies appeared on BitcoinEthereumNews.com.
Private equity firm EQT AB has agreed to sell Rimes Technologies to Five Arrows, Rothschild & Co.’s alternative assets division. This news, announced by EQT, involves the company and its co-shareholders selling Rimes to Five Arrows Long Term Fund (FALT) and Five Arrows Principal Investments (FAPI). EQT to sell data management tech firm Rimes to Five Arrows https://t.co/1LOFxb5884 Swedish Fintech firm EQT has agreed to sell Rimes to Rothschild & Co.’s alternative assets unit Five Arrows. — ????FinTech.CEO ????CBDCs.AI (@CryptectiveHQ) April 13, 2024 The exact sale price hasn’t been revealed, but Bloomberg News reports that the transaction values Rimes at anywhere between 800 million euros ($852 million) and 900 million euros, which includes debt. Headquartered in New York City, Rimes provides data and tools for investment management. The firm was founded in 1996 and serves some of the biggest names in asset management globally, representing over $75 trillion in assets under management. Its clients range from Bank of New York Mellon Corp. in the U.S. to Shell Plc in the U.K. The partnership between EQT and Rimes dates back to February 2020, when EQT made a strategic investment in Rimes, aiming to bolster Rimes’ regulatory technology and data management solutions. The company’s comprehensive suite of solutions includes Matrix IDM, an investment data management platform acquired in 2021, and a newly established AI product division. Five Arrows, with global assets under management exceeding 26 billion euros ($27.6 billion), operates through its long-term fund FALT and principal investments division FAPI. Brad Hunt, CEO of Rimes, expressed enthusiasm about the acquisition, noting that it will fuel Rimes’ ongoing momentum and growth trajectory. On their part, Vivek Kumar and Sacha Oshry from FAPI echoed similar sentiments, affirming their excitement about partnering with Rimes to navigate complex data challenges and drive continued success across geographies…
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