18 October 2017
Register now

General Atlantic makes $250 million investment in Markit

27 January 2010  |  11365 views  |  0 cash

General Atlantic has taken a $250 million stake in financial data and post-trade services group Markit.

The 7.5% holding puts a valuation on Markit of approximately $3 billion and represents a shift in investment strategy by General Atlantic which has in the past favoured investments in exchange-based trading systems.

Initially established to deliver pricing and valuation services for over the counter derivatives, Markit has more recently expanded its business into the post-trade processing arena. Back office automation is viewed as a major growth market for the future as capital markets participants are pressured by politicians and regulators into taking steps to reduce the systemic risks posed by the threat of counterparty default.

Bill Ford, CEO of General Atlantic, says: "As a financial information services industry leader, Markit is well-positioned to deliver the independent, high quality products and services that market participants need."

Ford, who will personally take a seat on Markit's board of directors, says General Atlantic will assist Markit actively in developing its growth strategy further and executing "value-creating acquisitions".

Lance Uggla, CEO of Markit, says: "GA is one of the leading investment firms in financial services and having them as a partner is an affirmation of our business model and enhances the opportunity we have for building long-term value. This significant investment marks an important milestone in Markit's strategy and evolution, and we will benefit immensely from GA's support and Bill Ford's participation on our board."

General Atlantic's investment will also go some way to pacifying regulatory concern over the degree of influence exerted by major derivatives dealers in Markit's shareholder base, an issue which formed part of a US Justice Department probe into the credit default swaps market in July.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Markit and DTCC derivatives trade processing JV set for September launch

Markit and DTCC derivatives trade processing JV set for September launch

11 August 2009  |  6765 views  |  0 comments
US Justice Dept. investigates Markit shareholders - Bloomberg

US Justice Dept. investigates Markit shareholders - Bloomberg

14 July 2009  |  7896 views  |  0 comments
Markit acquires TZ1 environmental registry from NZX

Markit acquires TZ1 environmental registry from NZX

01 July 2009  |  11562 views  |  0 comments
Markit and CDP to launch climate change investment indices

Markit and CDP to launch climate change investment indices

19 June 2009  |  4602 views  |  0 comments
Northern Trust adds Markit post-trade suite to OTC platform

Northern Trust adds Markit post-trade suite to OTC platform

26 May 2009  |  5953 views  |  0 comments
Markit and Tokyo Stock Exchange discuss new business ventures

Markit and Tokyo Stock Exchange discuss new business ventures

28 October 2008  |  6282 views  |  0 comments
Markit buys JPMorgan loan software unit

Markit buys JPMorgan loan software unit

28 July 2008  |  7846 views  |  0 comments
Markit and DTCC form derivatives trade processing JV

Markit and DTCC form derivatives trade processing JV

21 July 2008  |  12059 views  |  0 comments
Liquidnet Europe signs for Markit Boat platform

Liquidnet Europe signs for Markit Boat platform

02 May 2008  |  6306 views  |  0 comments
Markit to launch multi-dealer valuations platform

Markit to launch multi-dealer valuations platform

21 February 2008  |  5309 views  |  0 comments
Markit buys Boat

Markit buys Boat

22 January 2008  |  12472 views  |  0 comments
Markit to buy SwapsWire

Markit to buy SwapsWire

04 December 2007  |  17835 views  |  0 comments
Markit buys IIC; to acquire CDS IndexCo

Markit buys IIC; to acquire CDS IndexCo

14 November 2007  |  10898 views  |  0 comments
Nyse, Goldman group acquires 20% stake in India's National Stock Exchange

Nyse, Goldman group acquires 20% stake in India's National Stock Exchange

10 January 2007  |  7367 views  |  0 comments
Misys approached by private equity group

Misys approached by private equity group

12 June 2006  |  9645 views  |  0 comments
Credit derivatives dealers boost IT spending to cut backlogs

Credit derivatives dealers boost IT spending to cut backlogs

13 January 2006  |  9456 views  |  0 comments
RiskMetrics raises $122m from private equity trio

RiskMetrics raises $122m from private equity trio

15 June 2004  |  4483 views  |  0 comments
General Atlantic takes $125 million stake in Archipelago

General Atlantic takes $125 million stake in Archipelago

14 November 2003  |  4293 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comvisit www.innotribe.comvisit www.capgemini.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15258 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8459 views comments | 16 tweets | 21 linkedin
hands typing furiouslyHow artificial intelligence can deliver a...
7953 views 0 | 7 tweets | 9 linkedin
satelliteGates Foundation backs Ripple collaboratio...
7423 views comments | 13 tweets | 8 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
6580 views comments | 8 tweets | 16 linkedin

Featured job

Find your next job