Silver Lake to acquire 10% stake in Euroclear from ICE in $825m deal
Fintech-focused private equity firm Silver Lake is set to acquire a 9.85% stake in financial services company Euroclear in a deal worth $825 million (€709 million).
Euroclear’s growth will be “driven by innovation”
Silver Lake is buying the stake from commodity and financial exchanges company Intercontinental Exchange (ICE).
The deal could be finalised by the middle of next year and is subject to regulatory approval. Following the investment, a Silver Lake representative will join Euroclear’s board of directors.
Euroclear is a provider of post-trade security settlement, fund management, collateral management and data services. It was initially founded by JP Morgan in 1968 to settle trades on the burgeoning eurobond market.
The Brussels-based firm now boasts €35.2 trillion in assets under custody and connects more than 2,000 financial institutions across 50 different markets.
As part of the long-term strategic investment in the company, Silver Lake says it will look to leverage its experience in the fintech space to cement Euroclear’s future growth, “which is more than ever driven by innovation”, adds co-head of Silver Lake EMEA, Christian Lucas.
