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EquiLend to be acquired by PE firm WCAS

EquiLend to be acquired by PE firm WCAS

EquiLend, the securities lending trading platform owned by 10 major Wall Street firms, is being acquired by private equity firm Welsh, Carson, Anderson & Stowe (WCAS).

WCAS has agreed to acquire a majority stake in EquiLend for an undisclosed amount. It has also committed a further $200 million investment to support organic growth initiatives and acquisitions.

EquiLend was founded in 2001 by a consortium of global banks and broker-dealers and now has a client base of nearly 200 asset owners, agency lending banks, broker-dealers and hedge funds.

The firm's suite of technology supports all facets of a securities finance market participant’s business, including electronic trading, order management, post-trade automation, data and analytics, and regulatory.

Brian Lamb, CEO, EquiLend, says: “Our new partnership with Welsh, Carson, Anderson & Stowe will propel our business to new heights and enable us to do more than ever within securities finance and beyond. WCAS shares our client-centric vision and is a natural partner to support our mission of providing outstanding customer service and providing innovative technology solutions to the marketplace.”

Last year, the business settled a lawsuit brought by US public pension funds that accused it of facilitating market collusion by its owners. Goldman Sachs, Morgan Stanley, JPMorgan and UBS collectively agreed to pay $499 million to resolve the issue.

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