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Successful Private Equity Exit on SmartStream

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As you may have seen, SmartStream, a leader in trade reconciliation and STP solutions for financial institutions, was acquired by DIFC Investments. 

Due to various confidentiality agreements, I cannot comment too much on this transaction but this was a very successful investment for us which furthermore demonstrates our strong track record in the financial technology sector (nearly 20 investments and counting...).

During our time as an investor (technically, we still are shareholders until completion in 30 days), the Company has grown in sales, license backlog, profits and employees; in addition, we have put in place a world-class management team led by Ken Archer who were also shareholders in the Company alongside us.

I think that this was a good example of how private equity firms can create value for shareholders, employees and customers alike by investing in growing fintech companies. The holding period was shorter than usual but we had never initiated a sales process. I will not comment on our returns but what you've seen in the press is a step in the right direction. :-)

What do you think of the transaction? How about the buyer? DIFC claims that they will be using SmartStream as a platform for clearing and settlement services. Good idea? Bad?

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