Arma Partners advises smartTrade, a global leader in multi-asset electronic trading solutions, on the investment by Hg 
smartTrade is a global leader in multi-asset electronic trading software solutions
Its liquidity management solutions enable financial institutions to develop and run high-performance trading platforms throughout the world
The business has expanded rapidly in recent years and today has a global client base and operations around the world, including in London, Geneva, Milan, New York, Tokyo and Singapore
Hg is a leading European technology-focused private equity firm with approximately 170 employees across three investment offices in London, Munich and New York
It manages approximately £10 billion in funds on behalf of more than 100 institutional investors, including private and public pension funds, endowments, insurance companies and funds of funds
Hg has a strong track record in Capital Markets and Wealth and Asset Management Technology, having previously invested in Ullink, a France-based multi-asset trading technology software provider; and more recently FE fundinfo, a UK/Swiss provider of global fund data and technology
Keensight originally invested in 2015 and focused on the organic growth strategy including transitioning the infrastructure to cloud, launching new products and modules, and winning key strategic clients in Asia and the US
smartTrade was seeking a partner to support the business in its next phase of growth, including capturing the significant whitespace available particularly in the US and Asia, driving further product innovation across instruments and pursuing M&A opportunities
Hg brings in a complementary skillset with a strong track record in the Capital Markets and Wealth and Asset Management Technology and expertise in driving value through international expansion, M&A roll ups and continuous product innovation
Arma assisted the company with strategic positioning, preparation of marketing materials, financial modelling, diligence support and negotiation of the key transaction terms
Arma carefully shortlisted and pre-qualified the most credible strategic and PE buyers before launching a process, ensuring that confidentiality was maintained ensuring a level playing field between financial sponsors and large strategic players
Arma successfully maximised the competitive tension and assisted the company in pursuing tailored discussions with its shortlist of potential investors and acquirers, which resulted in a hugely successful outcome for the shareholders
The transaction highlights Arma Partners’ deep sector expertise in Capital Markets and Wealth and Asset Management Technology, ability to deliver high-value outcomes, and consistent track record of successfully executing co-investment transactions.