EQT
EQT invests in RIMES, the global leader in Managed Data Services for financial institutions (Cision)

2020-02-03 10:00
· EQT makes significant growth investment in RIMES, a leading global provider of Managed Data Services (MDS) and regulatory technology (RegTech) software solutions that address the complex needs of leading financial institutions · RIMES uses its proprietary technology, internal team of data management experts and relationships with 500 data partners to source, validate and configure market data in line with customer needs, ensuring superior data quality and reliability, reduced internal costs and increased operational flexibility · Together with RIMES’ CEO, President and Co-Founder Christian Fauvelais, EQT will support continued product innovation, further investment in technology and infrastructure, and organic as well as acquisitive growth by leveraging EQT’s global footprint and expertise across software, data and services The EQT Mid Market Europe fund (“EQT Mid Market” or “EQT”) today announced a significant growth investment in RIMES (“the Company”), and together with Christian Fauvelais, RIMES’ CEO, President and Co-Founder, EQT will support and accelerate execution of the Company’s strategic vision. RIMES serves the complex data needs of financial institutions with customized, scalable and cost-effective Managed Data Services and RegTech solutions. The Company pioneered the delivery of customized market and reference data via the cloud and has built a strong reputation for ensuring best-in-class data quality. Today RIMES serves more than 350 asset managers, owners, servicers and banks in 45 financial centres globally, including 60 of the top 100 global investment managers and 9 of the top 10 asset servicers in the world. EQT will support RIMES’ vision to be the global leader in Managed Data Services across all forms of market and reference data, including benchmark, risk, ratings, fundamental, economic, alternative, ETF and ESG data. By further investing in RIMES’ technology and internal talent, EQT will support service extensions and enhancements as well as product innovations across RIMES’ offerings in data management and RegTech.   The investment in RIMES is in line with EQT’s commitment to invest in sustainable solutions, guided by the United Nations’ Sustainable Development Goals. RIMES is an emerging leader in ESG data for the investment management industry, contributing to society by providing high-quality data on sustainability and increasing transparency in the business community. Victor Englesson, Partner at EQT Partners and Investment Advisor to EQT Mid Market, commented: “RIMES is perfectly aligned with EQT’s thematic investment approach and focus on software, data and services. EQT is excited to partner with Christian to support the continued development of RIMES and to help it achieve its full potential.” Christian Fauvelais, CEO, President and Co-Founder of RIMES, said: “We are excited to partner with EQT for the next stage of our growth. EQT’s values strongly align with ours, and their expertise in data, software and services businesses makes them a great partner as we move to deepen our client relationships and further grow our presence in the data management space across all regions. The partnership will accelerate our ongoing commitment to our existing clients across data management and RegTech and allow us to increase the pace at which we can invest in new technology and infrastructure to bring new solutions to the market, including in areas such as ESG and ETF data.” Robert Maclean, Managing Director at EQT Partners and Investment Advisor to EQT Mid Market, concluded: “We have been very impressed by RIMES’ achievements, and EQT looks forward to working with the team during the next stage of the Company’s growth, driven by continued investment in core solutions, support for the recently launched services in ESG and ETF data, and further enhancement of RIMES’ data management and RegTech offerings.” The transaction is subject to customary conditions and approvals and is expected to close in the first quarter of 2020. Contacts Victor Englesson, Partner at EQT Partners and Investment Advisor to EQT Mid Market, +46708218440 Robert Maclean, Managing Director at EQT Partners and Investment Advisor to EQT Mid Market, +442033729427 EQT Press office, press@eqtpartners.com, +46 8 506 55 334 About EQT EQT is a differentiated global investment organization with more than EUR 62 billion in raised capital and around EUR 41 billion in assets under management across 19 active funds. EQT funds have portfolio companies in Europe, Asia and the US with total sales of more than EUR 21 billion and approximately 127,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership. More info: www.eqtgroup.com Follow EQT on Twitter (https://twitter.com/eqt) and LinkedIn (http://www.linkedin.com/company/508278) About RIMES RIMES is an award-winning data management and regulatory technology specialist that truly understands the challenges faced by its customers. It serves over 350 asset managers, owners, servicers and banks in 45 countries including 60 of the 100 largest global asset managers by AUM and 9 of the top 10 asset servicers in the world. More info: www.rimes.com

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