Genstar Capital-backed Numerix acquires Canada’s Fincad

• Numerix is a New York-based provider of capital markets risk management technology
• Together, Numerix and Fincad are deeply penetrated across the capital markets ecosystem, including sell-side, buy-side, corporate and insurance market customers
• Genstar Capital invested in Numerix in 2022

Numerix, a portfolio company of Genstar Capital, has acquired Fincad, a Surrey, British Columbia-based analytics company focused on the pricing and risk analytics of financial derivatives and fixed income products, from Zafin. No financial details of the transaction were disclosed.

Headquartered in Vancouver, Zafin is a product and pricing SaaS solutions provider to financial institutions.

Numerix is a New York-based provider of capital markets risk management technology.

Together, Numerix and Fincad are deeply penetrated across the capital markets ecosystem, including sell-side, buy-side, corporate and insurance market customers, Numerix said in a statement.

Scott Niehaus, director at Genstar, said, “Targeted acquisitions were a key part of our strategy when we invested in Numerix last year. The combination with FINCAD will expand Numerix’s capabilities in the complex regulatory environment and provide greater value to its clients. We are committed to working with the Numerix team to identify additional opportunities to further build out the company.”

Genstar Capital is a mid-market private equity firm based in San Francisco. It invested in Numerix in 2022.

Willkie Farr & Gallagher and Davies Ward Phillips & Vineberg served as legal counsel and Razorhorse Capital served as financial advisor to Numerix. Scotiabank served as financial advisor and Fasken Martineau DuMoulin served as legal counsel to Zafin.