Five Arrows Acquires Rimes from EQT


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  • EQT, together with its shareholders, to sell Rimes to Five Arrows
  • Partnership provides foundation for accelerated global expansion of Rimes' enterprise data management and investment management platform solutions

NEW YORK and LONDON, April 9, 2024 /PRNewswire/ -- Rimes, a leading provider of EDM (enterprise data management) -as-a-Service and investment platform solutions to the global investment community, today announced that it has entered into an agreement to be acquired by Five Arrows, the alternative assets arm of Rothschild & Co. The investment has been led jointly by the Five Arrows Long Term Fund ("FALT") and Five Arrows Principal Investments ("FAPI"), together "Five Arrows". Five Arrows targets category–leading B2B data and software sectors across a focused set of end–markets including financial technology.

Founded in 1996, Rimes is a trusted partner to asset managers and asset owners worldwide, with its customers representing more than USD 75 trillion  in global assets under management. Today, Rimes serves 60 of the world's top 100 asset managers, as well as the 10 largest asset servicers in the world. Powered by its proprietary, multi-tenant cloud technology platform, Rimes' data management solutions empower its clients to make better investment decisions using reliable data, while improving cost efficiency and reducing operational risk.

In October 2021, Rimes further complemented its product offering with the acquisition of Matrix IDM, which added a powerful Investment Management Platform and data distribution and warehousing solutions. Today, Rimes is well-positioned to facilitate its customers' strategic operating model transformations and to power AI-led investment strategies.

Brad Hunt, CEO of Rimes, commented, "Rimes has been on a significant growth trajectory over the last few years, and I am really proud of what our team has achieved. Today, Rimes combines the customer-centric ethos and deep domain expertise that has differentiated us since 1996 with the industry's most modern technology and an innovative, comprehensive product offering designed to address the investment data challenges of the future. This transformation would not have been possible without the support of EQT and our Board, and I would like to thank them for the highly successful partnership. We look forward to joining forces with Five Arrows to build upon our strong momentum going forward."

Seif Khoufi and Constantin Sabet d'Acre, Managing Director and Director of FALT, said "The Rimes team impressed us with their ambitious vision and their strong track-record of growing and scaling Rimes in a deeply customer-centric way. This is evidenced by industry-leading levels of customer satisfaction, and a history of solving a growing share of painpoints for customers through continuous innovation. We are confident that Rimes is uniquely positioned to continue to support its customers' expanding needs."

Vivek Kumar and Sacha Oshry, both Partners at FAPI added, "We are delighted to be partnering with Brad and the team to unlock the next chapter of Rimes' growth. We share in Rimes' strategic vision centered around solving financial institutions' most complex data problems across geographies, asset classes and customer types. We are thrilled to have the opportunity to support Rimes."

Rob Maclean, Partner within EQT Private Equity's Advisory Team, said, "We were delighted when co-founder Christian Fauvelais chose to partner with EQT to pursue our shared vision of transforming it into a global leader in EDMaaS solutions for the investment industry. It has been a pleasure working alongside management, and the entire Rimes team to accelerate the Company's growth." Patrick McBride, Director within EQT Private Equity's Advisory Team, added, "We believe Rimes has an incredibly bright outlook and is well-positioned to continue to deliver for its clients. We are grateful to have had the opportunity to partner with such an innovative and talented team and we are confident that they will continue to be successful with the support of Five Arrows."

The transaction is subject to customary regulatory approvals and is expected to close in the coming months.

EQT and Rimes were advised by Evercore (corporate finance) and Latham and Watkins (legal). Five Arrows was advised by Jefferies (corporate finance) and Shoosmiths (legal).

About Rimes

Rimes provides transformative enterprise data management solutions to the global investment community. Driven by our passion for solving the most complex data problems, we provide our clients with investment intelligence that powers more than USD 75 trillion in AUM annually. The world's leading institutional investors, asset managers and service providers rely on Rimes to help them make better investment decisions using accurate information and industry-leading technology. For more information, please visit www.rimes.com.

About Five Arrows

Five Arrows is the alternative assets arm of Rothschild & Co and has EUR 26 billion AuM with offices in Paris, London, New York, Los Angeles, San Francisco and Luxembourg. With over EUR 9 billion of assets under management, the corporate private equity business of Five Arrows is focused on investing in companies with highly defensible market positions; strong management teams; business models with high visibility of organic unit volume growth and strong unit economics; and multiple operational levers that can be used to unlock latent value. Sectors are limited to data and software, technology–enabled business services and healthcare. For more information, please visit www.rothschildandco.com/en/five-arrows/corporate-private-equity

About EQT

EQT is a purpose-driven global investment organization with EUR 232 billion in total assets under management (EUR 130 billion in fee-generating assets under management), within two business segments – Private Capital and Real Assets. EQT owns portfolio companies and assets in Europe, Asia-Pacific and the Americas and supports them in achieving sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com

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