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Portware closes PE recapitalisation led by Long Ridge Equity Partners

Thu, 07/08/2014 - 10:02

Portware has completed a private equity financing led by Long Ridge Equity Partners and the Portware executive team. 

The new financing will be used to retire all outstanding debt and provide additional resources for growth initiatives.
 
Portware Enterprise has recently been selected by global institutions representing more than USD3 trillion in assets under management as the centralized hub for execution management across global equities, FX, futures, options and fixed income.  
 
Founded in 2000, Portware is a provider of execution management systems (EMS) to global financial institutions. The company is the only EMS provider to combine artificial intelligence, visualisation, algo and commission optimisation tools for real-time decision support.
 
“We have made significant investments in our products, people and infrastructure to ensure continued success, and this transaction will further strengthen our firm as we continue to expand globally,” says Alfred Eskandar, CEO of Portware.
 
“Portware’s results-oriented management team has built an impressive track record and is respected for their unconventional thinking that drives product innovation and measurable client value,” says Jim Brown, managing partner of Long Ridge Equity Partners.  “Their strong industry pedigree combined with the firm’s impressive global growth gives us confidence that Portware will continue to deliver the most innovative and robust trade automation solutions to the institutional trading community.”
 
As part of the transaction, Brown will join the Portware board of directors. Portware will remain an independent company with majority ownership remaining with founders and the management team.
 
Broadhaven acted as exclusive advisor to Portware, and Morgan Lewis served as the company’s legal counsel for the transaction.


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