Finastra to divest Treasury and Capital Markets unit to Apax Funds - Trade Treasury Payments

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Finastra to divest Treasury and Capital Markets unit to Apax Funds

Finastra, a financial services software company, has reached an agreement to sell its Treasury and Capital Markets (TCM) business to an affiliate of Apax Partners LLP, a private equity advisory firm. 

Through the transaction the division will be rebranded and will go on to operate as an independent entity. The transaction is expected to be officially completed in the first half of next year although the terms of the agreement between the parties has not been disclosed.

With this divestiture, Finastra is aiming to sharpen its focus on core growth areas. The company, which is backed by Vista Equity Partners, plans to reinvest capital from the deal into enhancing its offerings across lending, payments, and universal banking.

Chris Walters, CEO at Finastra, said, “This sale marks an important milestone for Finastra that will help further launch our next phase of growth with a focused suite of mission-critical financial services software. It will provide capital to accelerate our strategy and reinvest in our core business, while providing our award-winning TCM platform with the backing of an experienced, long-term technology investor to support its continued success moving forward.”

TCM currently supports more than 340 financial institutions worldwide. Its software suite (Kondor, Summit, and Opics) delivers trade lifecycle, risk, compliance, and operational solutions. Once separated, TCM will operate as a standalone business backed by Apax Funds, which plans to accelerate the platform’s development through targeted investment in technology, product innovation, and cloud capabilities.

Jason Wright, Partner at Apax, said, “TCM is a robust, mission-critical platform with leading functionality and an impressive customer base. We see significant potential to invest in technology, talent, and customer relationships to accelerate innovation and growth as a standalone company, drawing on our 25 years of experience scaling global software companies.”

Apax has a long-standing presence in enterprise software and has previously backed firms such as IBS Software, Paycor, Azentio, and Zellis Group. The firm also brings experience in executing carve-outs, having led several corporate separations in the sector.

Gabriele Cipparrone, Partner at Apax, said, “We’re excited to partner with the TCM team as the business begins a new chapter as an independent organisation. With the backing of the Apax Funds, we expect TCM to benefit from accelerated innovation and enhanced operations, delivering even greater value to its clients.”

Finastra was advised by Evercore and Perella Weinberg Partners, with legal counsel from Kirkland & Ellis. Deutsche Bank served as financial advisor to Apax, and Simpson Thacher & Bartlett acted as legal advisor.

The transaction appears to align with the prevailing trend in financial software towards portfolio optimisation, as firms focus on scale in fewer, high-growth areas. Finastra, which serves customers in over 135 countries, is expected to retain its position as a major provider of financial technology while enabling the TCM platform to evolve with dedicated backing.

Completion is targeted for the first half of 2026, following standard regulatory processes and employee consultations.