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Hedge Fund Mergers And Acquisitions: Carlyle Group Acquires ITRS Group

New York (HedgeCo.net) – $153 billion hedge fund manager the Carlyle Group has acquired the financial monitoring systems group ITRS.

“We are very excited about the prospect of working with Carlyle to support Kevin and his management team in growing the business.” Stephen Bates, founder of ITRS, said, “We are confident that we now have the optimal team to provide a platform for innovation in products and services, and to deliver growth in international and new markets.”

ITRS is an award winning technology provider, primarily focused on supplying the financial services sector with trading infrastructure monitoring software. The company has over 600 installations worldwide and its clients include 8 of the top 10 global investment banks, and several brokers, exchanges, hedge funds and data vendors. In the year ended March 2011, ITRS generated more than GBP16 million ($25 million)  in revenues.

Carlyle will support ITRS’ international expansion and is committed to broadening of the Company’s specialized product offering. ITRS’ core product is “Geneos”. Geneos enables real-time proactive and predictive monitoring and management, presenting financial institutions with an ultra-high speed overview of their trading environment.

Equity for this investment will come from Carlyle Europe Technology Partners II (CETP II), a EUR530 million ($823 million)  fund that closed in November 2008.

Since 2002, Carlyle’s European Technology team has invested in 22 companies, supporting their growth, expansion and business transformation initiatives. Recent fund investments in the financial technology sector include: FRS Global, a risk and regulatory compliance software vendor to the financial services industry; Trema, a provider of treasury and asset management software for corporations and financial institutions; and Apama, a platform for complex event processing.

Alex Akesson
Editor for HedgeCo.net
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