The Carlyle Group acquires ITRS Group
Washington, DC-based global alternative asset manager The Carlyle Group has acquired ITRS Group, a global provider of real-time monitoring systems. The transaction closed today. Financial terms have not been disclosed.
ITRS, founded in 1997 and headquartered in London with offices in New York, Hong Kong and Manila, focuses on supplying the financial services sector with trading infrastructure monitoring software ─ the company has over 600 installations worldwide and its clients include eight of the top 10 global investment banks, and several brokers, exchanges, hedge funds and data vendors.
Kevin Covington, CEO of ITRS, says he expects The Carlyle Group's resources, international network and sector expertise will help propel ITRS forward as it continues to expand and enhance its product offering for clients.
Equity for this investment will come from Carlyle Europe Technology Partners II (CETP II), a €530 million fund that closed in November 2008. Since 2002, Carlyle's European Technology team has invested in 22 companies, supporting their growth, expansion and business transformation initiatives.
Recent investments in the financial technology sector include: FRS Global, a risk and regulatory compliance software vendor; Trema, a provider of treasury and asset management software; and Apama, a complex-event processing (CEP) platform.
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