KKR, a leading global investment firm, today announced that investment funds managed by KKR have completed the acquisition of OSTTRA, a leading provider of post-trade solutions for the global OTC market, from S&P Global and CME Group. The terms of the deal for OSTTRA equaled total enterprise value at $3.1 billion.
Established in 2021 as a joint venture between CME Group and S&P Global, OSTTRA serves the global financial ecosystem with a comprehensive suite of critical post-trade offerings across interest rates, FX, credit and equity asset classes. OSTTRA provides end-to-end connectivity and workflow solutions to banks, broker-dealers, asset managers, and other market participants across trade processing, trade lifecycle, and optimization.
Guy Rowcliffe and John Stewart will continue to lead the OSTTRA management team. Building on OSTTRA's strong foundation as a trusted provider of critical market infrastructure, KKR will support the Company's customer-centric growth by increasing OSTTRA's investments in technology and innovation across its leading post-trade solutions platform.
KKR will also support OSTTRA in creating a broad-based equity ownership program to provide all of the company's nearly 1,500 employees the opportunity to participate in the benefits of ownership.
Goldman Sachs & Co. LLC and BofA Securities, and Simpson Thacher & Bartlett served as financial and legal advisors, respectively, to KKR. Barclays served as financial advisor and Davis Polk served as legal advisor to S&P Global. Citi served as financial advisor and Skadden served as legal advisor to CME Group.
About OSTTRA
OSTTRA provides critical post trade infrastructure to global financial markets. Launched in 2021 through the combination of four businesses that have been at the heart of Post Trade innovation for more than 20 years (MarkitServ, Traiana, TriOptima and Reset), the OSTTRA network connects thousands of market participants to process millions of trades each day, streamlining end to end workflows – from trade capture and confirmation, through portfolio optimisation, to clearing and settlement. For additional information, please visit www.osttra.com.
About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit, and real assets and has strategic partners that manage hedge funds. KKR's insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR's investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE:KKR), please visit KKR's website at www.kkr.com. For additional information about Global Atlantic Financial Group, please visit Global Atlantic Financial Group's website at www.globalatlantic.com.
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Media
OSTTRA:
Ted Harvey
+447515961906
[email protected]
KKR:
Lauren McCranie
212-750-8300
[email protected]