Private equity firm Welsh, Carson, Anderson & Stowe (WCAS) will acquire a majority stake in global technology, data and analytics company, EquiLend.
The acquisition is set to close in Q2 2024, subject to regulatory approvals.
In addition, WCAS has committed a further US$200 million investment to support growth initiatives and acquisitions by EquiLend.
EquiLend provides a suite of financial technology solutions which support all facets of the securities finance transaction value chain, including electronic trading, order management and post-trade automation.
The firm was founded in 2001 by a consortium of global banks and broker-dealers to develop technology to create efficiencies for the securities finance market.
Since its conception, EquiLend’s client base has grown to nearly 200 asset owners, agency lending banks, broker-dealers and hedge funds.
CEO of EquiLend Brian Lamb says: “EquiLend has experienced remarkable growth over more than two decades of supporting the technological needs of the securities finance market. Our new partnership with WCAS will propel our business to new heights and enable us to do more than ever within securities finance and beyond.
“WCAS shares our client-centric vision and is a natural partner to support our mission of providing outstanding customer service and providing innovative technology solutions to the marketplace.”
Ryan Harper, general partner at WCAS, adds: “We are impressed with EquiLend's highly differentiated suite of technology solutions and its sustained, trusted client relationships.
“We believe the company is uniquely positioned to help drive further electronification, efficiency and innovation in its market. We look forward to partnering with the EquiLend team in this next chapter of exciting growth.”
WCAS is a US private equity firm focused on the technology and healthcare industries.
Founded in 1979, the firm’s strategy is to partner with management teams and build value for its investors through a combination of operational improvements, growth initiatives and strategic acquisitions.
The size of WCAS' majority stake in EquiLend, and the transaction price, are undisclosed.
