ION Investment Group is acquiring a majority stake in analytics provider Dealogic from the Carlyle Group LP (Nasdaq: CG). The private equity firm and the target's management team are keeping a stake in Deaologic. Carlyle invested in Dealogic in 2014.
Based in New York, Dealogic provides M&A and other financial data to financial services firms, including each of the world's top 50 investment banks. “We are excited to partner with ION and will benefit from the strength of their platforms and their established network of relationships with financial institutions and corporations," says Dealogic CEO Tom Fleming.
"Together we will be able to accelerate the digitization and automation of capital markets and introduce innovations to how financial institutions, investors and issuers conduct their business," adds ION CEO Andrea Pignataro. Dublin-based ION is a provider of market trading software for banks and other financial firms. In another financial data deal, Bregal Sagemount acquired Discovery Data in 2016.
The Carlyle Group is a global alternative asset manager with $170 billion of assets under management across 299 investment vehicles as of June 30, 2017.
UBS advised ION and is providing financing. JPMorgan Chase & Co. (NYSE: JPM) is advising Dealogic.