US private equity house TA Associates has invested $100 million in the recapitalisation of OpenLink Financial, a New York-based provider of trading systems for the financial and energy markets.
Founded in 1992, OpenLink serves many of the largest investment/commercial banks, central banks, energy marketers, public utilities and commercial companies.
OpenLink’s primary products, Endur for energy/commodity markets and Findur for financial markets, offer integrated, front-to-back-office software for trading and settlement.
Jonathan Meeks, a principal at TA Associates who will join the company’s board of directors, says of the investment: "We look for profitable, growth companies with strong management teams and we certainly found that in OpenLink."
Over the years, TA has invested over $1 billion in financial services and financial technology companies. Prior investments in the sector include Affiliated Managers Group, Amvescap, Ameritrade, Creditex, Datek Online, GlobeOp Financial Services, Instinet, IntercontinentalExchange, ION Trading Group, Lava Trading and Pimco.