Finastra, a global provider of financial software solutions, has agreed to sell its Treasury and Capital Markets (TCM) division to funds advised by Apax Partners LLP, a private equity firm specialising in technology investments.
The deal marks a significant portfolio streamlining for Finastra and will see TCM rebranded and operated as an independent business.
The acquisition is part of Finastra’s strategy to focus on its core offerings, with the sale set to generate capital for reinvestment in mission-critical software development. While the financial terms of the transaction have not been disclosed, it is expected to complete in the first half of 2026, pending regulatory and consultative approvals.
Finastra serves over 135 countries with a suite of financial applications spanning lending, payments, treasury, and core banking. TCM, a major component of its offering, provides software for risk management, compliance, and capital markets operations. Its flagship products, including Kondor, Summit, and Opics, support front-to-back trade lifecycle management and are deeply embedded in banking operations across 340 institutions.
Apax intends to transform TCM into a standalone entity with a renewed strategic and operational focus. Backed by Apax’s 25 years of experience in scaling global software firms, TCM will benefit from increased investment in product development, marketing, and cloud capabilities to support its global client base.
Finastra CEO Chris Walters said, “This sale marks an important milestone for Finastra that will help further launch our next phase of growth with a focused suite of mission-critical financial services software. It will provide capital to accelerate our strategy and reinvest in our core business, while providing our award-winning TCM platform with the backing of an experienced, long-term technology investor to support its continued success moving forward.”
Apax partner Jason Wright added, “TCM is a robust, mission-critical platform with leading functionality and an impressive customer base. We see significant potential to invest in technology, talent, and customer relationships to accelerate innovation and growth as a standalone company.”
Apax partner Gabriele Cipparrone said, “We’re excited to partner with the TCM team as the business begins a new chapter as an independent organisation. With the backing of the Apax Funds, we expect TCM to benefit from accelerated innovation and enhanced operations, delivering even greater value to its clients.”
Apax has an established history of investing in enterprise software, with a portfolio that includes Paycor HCM, Zellis Group, and IBS Software. The firm also brings extensive expertise in executing corporate carveouts across the software industry.
Advisors on the transaction included Evercore, Perella Weinberg Partners, and Kirkland & Ellis for Finastra and Vista Equity Partners, while Deutsche Bank and Simpson Thacher & Bartlett advised Apax.
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