Blackstone and Goldman Sachs to Acquire Ipreo
Private equity (PE) funds managed by Blackstone and Goldman Sachs’ merchant banking division have signed a definitive agreement to acquire Ipreo Holdings from Kohlberg Kravis Roberts (KKR), which will retain a minority ownership stake in the business.
Ipreo specialises in software across the equity, fixed income, municipal, and syndicated loan markets, including bookbuilding systems, roadshow and conference management platforms, and electronic document delivery. The firm is known particularly for its Bigdough database, a source for institutional contact data and investor profiles.
“Together with KKR, we have grown significantly and solidified our leadership in capital markets software, and data and analytics services,” said Scott Ganeles, chief executive officer (CEO) of Ipreo. “We are excited to partner with Blackstone, Goldman Sachs and KKR in our next phase of development.
“Our new investors bring a complementary set of experience, relationships, and in-market expertise that will help support the growth of the business and will allow us to provide our customers with accelerated access to new market-leading products.”
Over the past three years since KKR’s initial investment, Ipreo has increased revenues by around 50% and made strategic acquisitions of Debtdomain and Discovery Data.