Genstar to buy Asset International a week after selling health payments company Evolution1


dollar money capital fundGenstar Capital has signed a definitive agreement to buy Asset International from fellow mid-market buyout house Austin Ventures.

The deal, estimated by industry insiders to be worth up to $150m, comes five years after Austin bought into the business using its 10th fund, which closed on $900m.

Asset International, which provides data and marketing software for global asset managers, will use the capital to find more customers and accelerate product innovation according to Genstar principal Tony Salewski.

He said, “Asset International is a strong, vertically focused information services business that we have followed for several years, and it is an exciting platform from which to build a global leader in financial data and marketing services.

“Given the significant fragmentation among information providers globally, we have also committed capital to pursue acquisitions.”

Asset International currently provides business intelligence, and information services to more than 500 asset management businesses with more than $20tn of assets under management.

The deal with Genstar is expected to close in July 2014.

Last week Genstar agreed to sell consumer-directed health payments specialist Evolution1 in a $532.5m deal.

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