TA Associates, a global growth private equity firm, has completed an investment in LIST, a developer of software solutions for the financial industry.
Financial terms of the transaction have not been disclosed.
LIST is a provider of trading and compliance software solutions and infrastructural services to a wide range of financial institutions. The company’s trading and brokerage platform offering, FastTrade, supports operations in a multi-asset and multi-market environment with modules for pricing, quoting, hedging, position keeping, algorithmic trading and execution management in high and low-touch business environments. LIST’s capital markets, governance, risk and compliance solutions are used by more than 130 customers ranging from investment banks and asset managers in Italy to large global financial corporations. The company is headquartered in Pisa, Italy, and has additional offices throughout Italy and around the world, including the United States, United Kingdom, Spain, Poland, Canada, India and Malaysia.
“As one of Europe’s leading capital markets technology providers, LIST has a strong and long-term track record of delivering exceptional software and services across a wide range of trading and compliance needs,” says J Morgan Seigler (pictured), a Managing Director at TA Associates who will join the LIST Board of Directors. “Importantly, we are investing alongside what we believe to be a seasoned, passionate and talented management team that will continue to actively build the company. We are honoured to be a part of the LIST family and are excited to begin working closely with management to help LIST capitalise on its strategy and international growth initiatives.”
“Over the course of our 33-year history, we have strived to provide our customers with high quality products and services to help them meet their unique trading and compliance needs,” says Enrico Dameri, Co-Founder, Chairman and Chief Executive Officer of LIST. “We believe our partnership with TA Associates will help us expand our offerings and territories, while continuing to deliver the services our customers have come to expect. Perhaps what we are most excited about is that TA is fully-aligned with and supportive of our strategy, and has committed to working collaboratively with our team to accelerate our forward momentum. We welcome TA as an investor and look forward to benefitting from this partnership.”
“Software services for financial-focused companies around the world are increasingly playing a more critical role in a variety of daily operations,” says Naveen Wadhera, a Managing Director at TA Associates who will join the LIST Board of Directors. “As institutions around the world continue to shift towards electronic trading practices, we believe LIST is well positioned to take advantage of further growth opportunities in international and emerging markets. We are pleased to have the opportunity to partner with LIST’s management team and founders as we seek to create significant additional value in the company.”
In addition to Morgan Seigler and Naveen Wadhera, Stefan Dandl, a Vice President at TA Associates, will also join the LIST Board of Directors.
Latham & Watkins LLP provided legal counsel and KPMG served as financial advisor to TA Associates. Nctm Studio Legale provided legal counsel and Studio MCCR served as financial advisor to LIST.
