The Carlyle Group Makes Minority Investment in ION
OREANDA-NEWS. Global alternative asset manager The Carlyle Group (NASDAQ: CG) today announced that it has made an approximately $400 million minority investment in ION Investment Group, a global provider of mission-critical software to financial institutions and corporates.
Cam Dyer, Managing Director in the Carlyle Global Technology, Media, and Telecommunications group, said, “We are delighted to partner with ION, a global leader in financial technology with over €300 million in EBITDA, which is uniquely positioned to drive consolidation and innovation in the sector and has demonstrated a consistent track record of value creation with a long-term approach to both organic investments and acquisitions.”
Andrea Pignataro, ION‘s CEO, said, “We are excited to partner with Carlyle tosupport our next phase of growth. Carlyle will bring significant value through its global network, M&A experience and capital, as well as its software and financial technology industry expertise.”
Carlyle Operating Executive Renee James said, “I look forward to working with ION’s world-class management team to help large enterprises digitize and automate their critical business processes through ION’s integrated and unified next generation technology architecture.”
Ms. James and Mr. Dyer have joined ION’s Board of Directors. Ms. James currently sits on the Boards of Oracle, Citi, and Veritas and is the former President of Intel. Mr. Dyer’s current and recent former Board roles include CommScope, Dealogic, SS&C Technologies, OpenLink Financial, and Veritas.
Equity from this transaction came primarily from Carlyle Partners VI, a $13 billion fund that invests in corporate buyouts and strategic minority investments across five industries. The investment in ION is a continuation of Carlyle’s long-term global commitment to Technology, Media & Telecom, in which it has invested more than $22 billion of equity since inception. Carlyle’s significant experience investing in the TMT space includes SS&C Technologies, Dealogic, OpenLink Financial, CommScope, Nielsen, Syniverse and most recently Veritas.
Carlyle Partners VI is part of Carlyle’s Corporate Private Equity segment, the oldest and largest of the firm’s four business segments, with assets under management of $61 billion as of March 31, 2016. Corporate Private Equity, with 279 investment professionals, operates 32 active funds worldwide with more than 275 active investments as of March 31, 2016.
Latham & Watkins served as legal counsel to Carlyle. ION was advised by Evercore and Allen & Overy.