# Apax Global Alpha to invest €25m in Finastra’s TCM division

- Link: https://www.directorstalkinterviews.com/apax-global-alpha-to-invest-e25m-in-finastra-s-tcm-division/4121197629
- Published: 2025-05-21T08:12:16+01:00
- Author: Amilia Stone

**Apax Global Alpha Limited** (LON:APAX), the closed-ended investment company providing
access to the Apax Private Equity Funds, has announced that it expects to invest
approximately €25m in the Treasury and Capital Markets (TCM) division of Finastra
on a look-through basis.

On 19 May 2025, Apax XI Fund (Apax XI), in which AGA is a limited partner, announced
that it had reached an agreement to acquire the TCM division of Finastra, a global
provider of financial services software. Upon completion of the transaction, TCM
will be rebranded and operated as a standalone business. The transaction is expected
to close in the first half of 2026, subject to customary closing conditions and 
the completion of information and consultation processes with employee representative
bodies, where required.

With a client base of over 340 financial institutions, TCM is a trusted enabler 
of risk management, regulatory compliance, and capital markets operations. Its suite
of software products, most notably Kondor, Summit, and Opics, supports front-to-
back trade lifecycle management, risk, compliance, and operations. Built on decades
of intellectual property and long-standing client relationships, TCM is deeply embedded
in the global banking ecosystem.

As an independent company working in partnership with the Apax Funds, TCM will be
able to invest further in new product development, marketing, and technology infrastructure
to meet its customers’ evolving needs. The Apax Funds will support TCM in sharpening
its strategic and operational focus, enhancing customer experience, and accelerating
technological advancements, including strengthening the company’s cloud offering.

The transaction draws on the Apax Funds’ expertise in the software subsector with
notable investments including Paycor, Zellis Group, and ECi Software. The Apax Funds
also have extensive experience in supporting corporate carveouts in the software
space.

**Jason Wright, Partner at Apax, said:**

_“TCM is a robust, mission-critical platform with leading functionality and an impressive
customer base. We see significant potential to invest in technology, talent, and
customer relationships to accelerate innovation and growth as a standalone company,
drawing on our 25 years of experience scaling global software companies.”_

> **Gabriele Cipparrone, Partner at Apax Global Alpha, added:**
> _“We’re excited to partner with the TCM team as the business begins a new chapter
> as an independent organisation. With the backing of the Apax Funds, we expect 
> TCM to benefit from accelerated innovation and enhanced operations, delivering
> even greater value to its clients.” _

Note that AGA’s expected investment in TCM is calculated based on the look-through
positions of Apax XI’s overall investment in TCM and is translated based on the 
latest exchange rates available where applicable^(1). AGA has a commitment of c.
$700m to Apax XI^(2).

Apax Global Alpha, whose shares are listed on the London Stock Exchange, provides
investors with access to a portfolio of private equity funds advised by Apax as 
well as a smaller portfolio of debt instruments.

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