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Black Mountain Systems acquired by Stone Point Capital

Black Mountain Systems, a developer of data and process management solutions for asset managers and financial institutions, has completed a majority recapitalisation, led by existing management and funds managed by Stone Point Capital.

By combining Black Mountain's highly customisable Everest platform with Stone Point's relationships and expertise in financial services, Black Mountain is well positioned to advance its mission of bringing growth and innovation to investment professionals. Additionally, this transaction will enable Black Mountain to hasten its pace of expansion and allow its management team to deploy additional resources for a broader roll-out of its product- and service-based solution offerings.

"We see tremendous strategic value in Everest's highly configurable design, broad functionality and capacity to empower decision makers with complete and accurate information," says Charles A Davis, Chief Executive Officer of Stone Point. "We also recognise the technical and client-based expertise that the Black Mountain team brings to its clients, and we look forward to working with the management team to help Black Mountain reach its full potential."

"We are very excited about this transaction. This is the right move for Black Mountain's long-term strategy and will enable us to better serve our customers and employees," says Kevin MacDonald, co-Chief Executive Officer of Black Mountain Systems. "I look forward to working with Stone Point as Black Mountain enters its next phase of innovation, growth and leadership."

"We were very careful about making this decision, and I firmly believe that Stone Point is the best partner we could have chosen to position Black Mountain for its next chapter. I am extremely proud of the great team we have assembled and the culture we have cultivated at Black Mountain, and I am truly excited about the opportunity to take our success to a new level," says Andy Horwitz, Black Mountain's co-Chief Executive Officer.

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