General Atlantic has acquired a minority stake in Markit Group Ltd., a London-based financial information provider. No financial terms were disclosed, but the FT puts the deal at $250 million with a valuation of just over $3 billion.
Markit, a leading, global financial information services company, today announced that global growth investor General Atlantic (GA) has agreed to make a substantial equity investment in Markit.
The addition of General Atlantic as a significant shareholder positions Markit for continued long-term
growth and adds a proven investor in financial sector innovation to Markit’s existing diverse shareholder
base. General Atlantic will assist Markit actively in developing its growth strategy further and executing
Lance Uggla, CEO of Markit, said: “We are delighted to welcome General Atlantic as a shareholder in
Markit. GA is one of the leading investment firms in financial services and having them as a partner is an
affirmation of our business model and enhances the opportunity we have for building long-term value.
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.”
Bill Ford, CEO of General Atlantic, said: “Markit is an innovative, entrepreneurial firm with a great
management team. As a financial information services industry leader, Markit is well-positioned to deliver
the independent, high quality products and services that market participants need. We look forward to
contributing to the next stage of Markit’s growth as a strategic partner.”
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.
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Notes to Editors:
Markit is a leading, global financial information services company with over 1,400
employees. The company provides independent data, valuations and trade processing across all asset
classes in order to enhance transparency, reduce risk and improve operational efficiency. Its client base
includes the most significant institutional participants in the financial market place. For more information,
About General Atlantic
GENERAL ATLANTIC is a leading global growth equity firm providing capital and strategic support for
growth companies. GA combines a collaborative global approach, sector specific expertise, long-term
investment horizon and a deep understanding of growth drivers to partner with exceptional management
teams and build enduring businesses worldwide. Established in 1980, GA manages approximately $15
billion in capital and has more than 75 investment professionals based in Greenwich, New York, Palo Alto,
London, Düsseldorf, Hong Kong, Beijing, Mumbai and São Paulo. For further information and a listing of
GA’s public and private portfolio companies see www.generalatlantic.com.