Software-focused European buyout house Hg has agreed to buy stakes in electronic trading specialist smartTrade Technologies from Keensight Capital and Pléiade Venture.
The company is a managed services and hosted software provider for trading desks, with its liquidity management solutions enabling financial institutions to develop and run high-performance trading platforms.
Hg’s investment will be made from the Mercury 2 Fund and represents the firm’s seventh investment in tech businesses serving the capital markets and wealth and asset management sectors.
Its previous investments in the space include Ullink, a global multi-asset trading technology software provider, and FE fundinfo, a global fund data and technology leader.
David Vincent, co-founder and CEO of smartTrade, said, “The success of our business is based on continued innovation and technological advancement, putting R&D at the heart of our business.
“Welcoming Hg, a real expert in software and technology in this sector, creates a truly compelling offering.”
Keensight Capital joined Pléiade Venture as a stakeholder of smartTrade Technologies in 2015.
This proposed investment is subject to French workers’ council consultations and customary clearances.
Hg was advised on the investment by White & Case, Deloitte and Bryan, Garnier & Co. smartTrade was advised by Arma Partners and Hoche Partners.
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