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Is This a Financial Data Bubble, Acuris Could be Sold?

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The Blackstone Group, along with its co-investors, Singapore’s GIC Private Limited and Canada Pension Plan Investment Board (CPPIB), own Refinitiv, formerly the financial and risk business of Thomson Reuters. Tagged with a US$ 13.5 billion debt package, the October 2018 deal was a landmark transaction in the financial data industry.

Refinitiv is headed up by former McKinsey consultant David Craig who joined Thomson Reuters Corporation in 2007. Craig started as chief strategy officer at Thomson Reuters before becoming president of financial and risk. Before the adoption of the new name of Refinitiv, rival data company FactSet won a gargantuan contract from Bank of America Merrill Lynch, providing data for over 15,000 wealth managers. In a blow to Refinitiv, Merrill Lynch wealth management was a long-term data and terminal client of Thomson Reuters. Refinitiv is trimming costs by cutting approximately 2,000 jobs. The race for artificial intelligence and its integration into financial data is on. The question is how many firms have monetized this? What are the renewal rates with predictive fintech startups versus referential data? [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Antares Bain Capital Complete Financing Solution Backs symplr Deal

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On December 10, 2018, Antares Bain Capital Complete Financing Solution provided a senior secured unitranche credit facility for Clearlake Capital Group, L.P. to acquire symplr, a healthcare governance, risk, and compliance software-as-a-service platform from Pamlico Capital and The CapStreet Group. Golub Capital provided financing for the transaction as well.

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PSP Investments Exits Antelliq

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On December 14th, Private equity firm BC Partners, Public Sector Pension Investment Board (PSP Investments), and other minority co-investors have signed a definitive agreement with Merck, known as MSD outside the United States and Canada, to sell Antelliq Corporation, a Vitré, France-based provider of digital animal identification, traceability, and monitoring solutions. Upon close, Antelliq will be a wholly owned and separately operated subsidiary within the Merck Animal Health Division. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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JPMorgan Edges Out Hamilton Lane on Florida SBA In-State Mandate

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The Florida State Board of Administration (SBA) manages a plethora of Florida state funds, including the state’s defined benefit plans. Florida’s SBA awarded a private equity portfolio mandate which targets high-technology businesses in Florida to J.P. Morgan Asset Management. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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