Finastra, a global provider of financial software applications, and funds advised by Apax Partners LLP, a private equity advisory firm, announced that they have entered into an agreement under which Finastra “intends to sell its Treasury and Capital Markets (TCM) business unit to an affiliate of Apax.”
Upon completion of the transaction, TCM will be “rebranded and operated as a standalone business.”
With a client base of over 340 financial institutions, TCM is an “enabler of risk management, regulatory compliance, and capital markets operations.”
Its suite of software products – notably Kondor, Summit, and Opics – supports “front-to-back trade lifecycle management, risk, compliance, and operations.”
Built on intellectual property and client relationships, TCM is “deeply embedded in the global banking ecosystem.”
The sale of TCM will streamline Finastra’s portfolio and generate capital for reinvestment to “enhance the company’s position as one of the world’s software providers to financial services companies.”
Finastra remains focused on serving its diversified and established customer base in over 135 countries, “offering deep domain expertise and technology to many of the world’s FIs and corporations.”
Chris Walters, CEO at Finastra said:
“This sale marks an important milestone for Finastra that will help further launch our next phase of growth with a focused suite of mission-critical financial services software. It will provide capital to accelerate our strategy and reinvest in our core business, while providing our award-winning TCM platform with the backing of an experienced, long-term technology investor to support its continued success moving forward.”
As an independent company working in partnership with the Apax Funds, TCM will be able to “invest further in new product development, marketing and technology infrastructure to meet its customers’ evolving needs.”
The Apax Funds will support TCM in sharpening strategic and operational focus, “enhancing customer experience and accelerating technological advancements, including strengthening the company’s cloud offering.”
Jason Wright, Partner at Apax
“TCM is a robust, mission-critical platform with leading functionality and an impressive customer base. We see significant potential to invest in technology, talent, and customer relationships to accelerate innovation and growth as a standalone company, drawing on our 25 years of experience scaling global software companies.”
Gabriele Cipparrone, Partner at Apax, said:
“We’re excited to partner with the TCM team as the business begins a new chapter as an independent organization. With the backing of the Apax Funds, we expect TCM to benefit from accelerated innovation and enhanced operations, delivering even greater value to its clients.”
Funds advised by Apax have a history of “investing across the application software industry.”
Notable investments include Paycor HCM, Zellis Group, ECi Software, OCS / Finwave, Azentio, EcoOnline and IBS Software.
The Apax Funds also have experience in “supporting corporate carveouts in the software space.”
The transaction is expected to close in the first half of 2026, “subject to customary closing conditions and the completion of information and consultation processes with employee representative bodies, where required. Further terms of the transaction were not disclosed.”
Evercore served as “financial advisor to Finastra and Vista Equity Partners and Kirkland & Ellis served as legal advisor.”
Perella Weinberg Partners also served “as a financial advisor to Finastra. Deutsche Bank served as financial advisor to Apax and Simpson Thacher & Bartlett served as legal advisor.”
Finastra is a global provider of financial services “software applications across Lending, Payments, Treasury and Capital Markets, and Universal (retail and digital) Banking.”
Committed to unlocking the potential of people, businesses and communities everywhere, its vision is “to accelerate the future of finance through technology and collaboration, and its approach is why it is trusted by 8,100 financial institutions, including 45 of the world’s top 50 banks.”
As noted in the update, Apax Partners LLP is a “global private equity advisory firm.”
The firm has raised and advised funds with aggregate “commitments of c.$80 billion.”
Apax Funds invest in companies across “three global sectors: Tech, Services, and Internet/Consumer.”
These funds provide long-term equity financing “to build and strengthen world-class companies.”