Growth investor General Atlantic (GA) has agreed to make a “substantial” equity investment in Markit, a global financial information services company.
General Atlantic will assist Markit actively in developing its growth strategy further and executing value-creating acquisitions.
Commenting on the investment, Lance Uggla, CEO of Markit, was quoted to say: “This significant investment marks an important milestone in Markit’s strategy and evolution, and we will benefit immensely from GA’s support and Bill Ford’s participation on our Board”.
Since inception, Markit has expanded its product set across all asset classes and diversified its services to include valuations, economic and reference data, indices and trade processing.
Early in January, the company completed the acquisition of ClearPar, an automated syndicated loan operations platform used for the settlement of par and distressed loan trades in the U.S. and Europe.