World’s largest alternative assets management firm Blackstone and global investment bank Goldman Sachs have together acquired the Ipreo Holdings LLC (Ipreo), a global provider of market intelligence and workflow solutions to capital markets and corporate professionals, from Kravis Roberts & Co LP (KKR), as per a release.
The acquisition is done by Blackstone’s PE funds along with Goldman Sachs Merchant Banking Division. The deal value stands undisclosed.
“Ipreo is an extraordinary company with tremendous potential for growth and we are pleased to partner alongside management and Goldman Sachs to position Ipreo for continued innovation and success,” said Martin Brand, senior MD, Blackstone.
“Ipreo has a long track-record of impressive performance across all the markets it serves. We are excited to help the company achieve new levels of market leadership, alongside our new partners,” said Sumit Rajpal, global head of financial services investing for the Goldman Sachs Merchant Banking Division.
Headquartered in New York, Ipreo is the only provider of capital markets solutions across the equity, fixed income, municipal, and syndicated loan markets, and is especially known for its Bigdough database.
Its clientele portfolio includes the world’s leading investment banks and hundreds of corporations listed on all the major exchanges around the globe. Ipreo has more than 800 employees supporting clients in every major financial center around the world.
KKR had acquired Ipreo Holdings LLC in August 2011.
(Edited by Joby Puthuparampil Johnson)