Sun, Apr 30, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Eze Castle Software and RealTick sale completed

Tuesday, April 09, 2013
Opalesque Industry Update - ConvergEx Holdings, LLC announced that it has completed its previously announced sale of Eze Castle Software LLC and RealTick LLC to an affiliate of TPG. ConvergEx will now focus exclusively on expanding the global brokerage and trading‐related services it provides to institutional investors and financial intermediaries.

“ConvergEx is an exceptional global franchise with a wealth of talented employees and a loyal customer base,” said ConvergEx Chairman and Chief Executive Officer Joseph M. Velli. “We see a great number of opportunities in our future as we keep innovating and delivering differentiated technology‐driven solutions, while providing superior client‐first service.”

ConvergEx’s management structure and investor base remain unchanged after the completion of the transaction. Eze Castle Software and RealTick will operate under the name Eze Software Group. ConvergEx will maintain a close relationship with Eze Software Group through a cooperative marketing arrangement to ensure that each firm’s services will continue to be offered on an integrated basis. Each firm will also cross‐sell the other company’s services.

Goldman, Sachs & Co., J.P. Morgan Securities LLC and Citigroup acted as financial advisors to ConvergEx. Kirkland & Ellis served as legal counsel. Financial terms were not disclosed.

Press release

bc

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: Ex-Man manager combines sustainable investing with AI/ML[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: Dr. Richard Bateson, quant fund manager and physicist, has recently

  2. Hedge funds holding Puerto Rico bonds are looking at a long battle[more]

    Komfie Manalo, Opalesque Asia: Hedge funds which bought Puerto Rico's distressed debt bonds are facing the prospect of a long road ahead to recover their investments as the Caribbean island is attempting to use a U.S. Congress-approved rule that allows it to exploit a bankruptcy-like proceedings

  3. Other Voices: "Winner-take-all" dynamics and hedge fund investing[more]

    A growing stream of thinking in microeconomics is the concept of "winner-take-all" dynamics. The idea seems simple. A combination of networking economics and classic economies of scale creates situations where there are just a few dominant firms or economic agents who are able to capture significant

  4. Investing - How Chipotle's comeback attracted big data robots and value investors alike[more]

    From Forbes.com: When William Ackman's ailing hedge fund Pershing Square Capital Management bet $1 billion on shares in Chipotle Mexican Grill beginning in July 2016, the stakes couldn't have been higher. Pershing Square was reeling from what would eventually be a near $4 billion loss in drugmaker V

  5. Gondor Capital sees challenges ahead for financial markets as two hedge funds post strong gains in Q1[more]

    Komfie Manalo, Opalesque Asia: Vincent Au, portfolio manager of New York-based hedge fund firm Gondor Capital Management believes that the remaining of the year would be challenging for the financial markets even as his two hedge funds maintain