Golden Gate to invest $200m in tech services provider Pico

• Existing Pico strategic investors and clients include Goldman Sachs Asset Management, Wells Fargo Strategic Capital, J.P. Morgan and UBS
• Jefferies LLC served as financial advisor to Pico
• Golden Gate Capital has over $19 billion in cumulative committed capital

Golden Gate Capital has agreed to invest $200 million in Pico, a provider of tech services for the financial markets community. The capital will be used to pursue M&A opportunities and other general corporate purposes.

“We are thrilled to have Golden Gate Capital as an investor and strategic partner supporting us to continue leveraging our leading global technology and data platform to provide additional services for our clients,” said Jarrod Yuster, chairman, founder and CEO of Pico, in a statement. “Golden Gate Capital’s deep financial services experience and track record of successful acquisitions at their portfolio companies will help advance our strategy.”

Pico was founded in 2009 to address the macro trends in electronification of markets across all asset classes.

In 2019, Pico acquired market leading trading and enterprise analytics solution Corvil Analytics.

Existing Pico strategic investors and clients include Goldman Sachs Asset Management, Wells Fargo Strategic Capital, J.P. Morgan, UBS, CE Innovation Capital, DRW Venture Capital, Intel Capital, Singapore-based global investor EDBI, Nomura and Chicago Trading Company.

Jefferies LLC served as financial advisor to Pico while DLA Piper LLP served as legal advisor. Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisor to Golden Gate Capital.

Golden Gate Capital is a San Francisco-based private equity investment firm with over $19 billion in cumulative committed capital.