Financial software provider Finastra has entered into an agreement to sell its Treasury and Capital Markets (TCM) business unit to funds advised by Apax Partners for an undisclosed amount.

Once the deal has been completed, TCM will be rebranded and operate as a standalone business.

TCM has a client base of more than 340 financial institutions and provides a suite of software products, including Kondor, Summit, and Opics, that support front-to-back trade lifecycle management, risk, compliance, and operations.

Finastra said the sale of TCM would streamline its portfolio and generate capital to reinvest in the company to enhance its software provision to financial services companies.

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.

Evercore served as lead financial adviser to Finastra and Vista Equity Partners, while Kirkland & Ellis served as legal adviser, and Perella Weinberg Partners also served as a financial adviser to Finastra.

Deutsche Bank served as financial adviser to Apax and Simpson Thacher & Bartlett served as legal adviser.

As an independent company working in partnership with the Apax Funds, TCM will be able to invest in new product development, technology infrastructure, and marketing, and the Apax Funds will support TCM in ‘sharpening’ its strategic and operational focus.

“This sale marks an important milestone for Finastra that will help further launch our next phase of growth with a focused suite of mission-critical financial services software,” said Finastra CEO, Chris Walters.

“It will provide capital to accelerate our strategy and reinvest in our core business, while providing our award-winning TCM platform with the backing of an experienced, long-term technology investor to support its continued success moving forward.”

Apax partner, Jason Wright, commented: “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.”

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