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EQT to sell Rimes, a global leader in enterprise data management solutions for the investment industry, to Five Arrows
- EQT, together with its co-shareholders, to sell Rimes to Five Arrows
- During EQT’s ownership, Rimes has successfully transformed from a specialist vendor of Benchmark and Index (B&I) data solutions to a provider of full-spectrum Enterprise Data Management as a Service (EDMaaS) and Investment Management Platform offerings to the global investment industry
- Today, Rimes serves 60 of the world’s top 100 asset managers, as well as the 10 largest asset servicers in the world
STOCKHOLM, April 9, 2024 /PRNewswire/ — EQT is pleased to announce that EQT Mid Market Europe (“EQT”), together with its co-shareholders, has agreed to sell Rimes (“Rimes” or the “Company”) to the Five Arrows Long Term Fund and Five Arrows Principal Investments (together “Five Arrows”). Five Arrows is the alternative assets arm of Rothschild & Co.
Founded in 1996, Rimes is a trusted partner to the world’s largest asset managers and asset owners, with its customers representing more than USD 75 trillion global assets under management. The Company helps its clients solve complex data problems, applying capabilities refined over 25 years, including an ecosystem of more than 800 data partners and deep domain expertise in investment data. Powered by its proprietary, multi-tenant cloud technology platform, Rimes’ data management solutions empower its clients to make better investment decisions using reliable data, while improving cost efficiency, and reducing operational risk.
Since EQT’s initial investment in 2020, it has supported Rimes in accelerating its growth and deepening its client relationships by expanding its market-leading B&I solutions to cover full-spectrum EDMaaS. In October 2021, Rimes further complemented its product offering with the acquisition of Matrix IDM, which added a powerful Investment Management Platform and data distribution and warehousing solutions. Today, Rimes is well-positioned to facilitate its customers’ strategic operating model transformations and to power AI-led investment strategies.
Robert Maclean, Partner within EQT Private Equity’s Advisory Team, said, “We were delighted when co-founder Christian Fauvelais chose to partner with EQT to pursue our shared vision of transforming Rimes into a global leader in EDMaaS solutions for the investment industry. It has been a pleasure working alongside management and the entire Rimes team to accelerate the Company’s growth.” Patrick McBride, Director within EQT Private Equity’s Advisory Team, added, “We believe Rimes has an incredibly bright outlook and is well-positioned to continue to deliver for its clients. We are grateful to have had the opportunity to partner with such an innovative and talented team, and we are confident that they will continue their successful growth with the support of Five Arrows.”
Brad Hunt, CEO of Rimes, “Rimes has been on a significant growth trajectory over the last few years, and I am proud of what the team has achieved by combining the customer-centric ethos and deep domain expertise that has differentiated us since 1996. Today, the firm’s most modern technology underpins an innovative, comprehensive product offering designed to address future investment data challenges. This transformation would not have been possible without the support of EQT and our Board, and we thank them for a productive and highly successful partnership. We look forward to joining forces with Five Arrows and building upon our strong momentum.”
Seif Khoufi and Constantin Sabet d’Acre, Managing Director and Director of the Five Arrows Long Term Fund, said “The Rimes team impressed us with their ambitious vision and their strong track-record of growing and scaling Rimes in a deeply customer-centric way. This is evidenced by industry-leading levels of customer satisfaction, and a history of solving a growing share of pain points for customers through continuous innovation. We are confident that Rimes is uniquely positioned to continue to support its customers’ expanding needs.” Vivek Kumar and Sacha Oshry, both Partners at Five Arrows Principal Investments, added, “We are delighted to be partnering with Brad and the team to unlock the next chapter of Rimes’ growth. We share in Rimes’ strategic vision centered around solving financial institutions’ most complex data problems across geographies, asset classes and customer types. We are thrilled to have the opportunity to support Rimes.”
The transaction is subject to customary regulatory approvals and is expected to close in the coming months.
EQT and Rimes were advised by Evercore (corporate finance) and Latham and Watkins (legal). Five Arrows was advised by Jefferies (corporate finance) and Shoosmiths (legal).
Contact
EQT Press Office, [email protected]
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
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Press Release, EQT Mid Market Europe, Rimes, 240409 |
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EQT Rimes |
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HONG KONG, Aug. 7, 2024 /PRNewswire/ — COCA, a pioneering force in the crypto wallet and financial services industry, has achieved several remarkable milestones in Q2 2024. Thanks to the steadfast support of its user community, COCA has launched new features, expanded its partnerships, and garnered prestigious accolades, further solidifying its position as a leader in the crypto space.
Launch of Physical Cards
COCA has introduced its highly anticipated physical cards, which are now available globally and compatible with Apple Pay and Google Pay. These cards allow users to make transactions with ease, earning cashback rewards on their purchases. This significant launch marks a step forward in integrating crypto with everyday financial activities, enhancing user convenience and financial flexibility.
Wallet Growth Milestone
The company has reached a significant milestone with 510,000 active wallets, reflecting a 102% growth quarter-on-quarter. This surge in active wallets highlights the increasing trust and adoption of COCA’s platform, as more users join the COCA community to manage their crypto assets securely and efficiently.
Transaction Volume Surge
In Q2 2024, COCA processed over USD 450,000 in transactions through its platform, demonstrating the robust usage and popularity of its financial services. This impressive transaction volume underscores COCA’s commitment to providing smooth and efficient crypto payment solutions.
Integration with Revolut
COCA has made it easier for users to fund their wallets by integrating with Revolut. This new feature allows seamless loading of crypto assets, enhancing the overall user experience and accessibility of COCA’s services.
Award Recognition
COCA has been honoured with the “Best Startup” award in the Financial Revolution category at CONF3RENCE & BLOCKCHANCE 2024. This award is a testament to COCA’s innovative approach and significant impact on the future of finance, recognizing its efforts in driving forward the digital financial ecosystem.
New Strategic Partnerships
COCA has formed strategic partnerships with industry leaders such as Wirex Pay and GoMining. These collaborations aim to provide users with enhanced rewards and a superior overall experience. The partnerships signify COCA’s dedication to expanding its ecosystem and delivering greater value to its users.
Welcoming Pavel Matveev
COCA is excited to announce the addition of Pavel Matveev, Founder of Wirex, to its team as a Strategy and Product Advisor. Pavel’s extensive experience and visionary approach are expected to drive COCA’s strategic initiatives and product development, contributing to the company’s continued growth and innovation.
Season 2 Point System Launch
Season 2 of COCA’s popular point system has launched, offering users the opportunity to earn points through various activities, including trades, referrals, holding assets, and spending with COCA cards. With a prize pool of USDT 3500 and 5 Wirex Pay Nodes, this season promises exciting rewards and increased user engagement. The season ends on August 9th, so users are encouraged to participate actively.
NFT Giveaway
In a special giveaway, COCA distributed 1000 GoMining NFTs to lucky users. These NFTs provide unique benefits, including enhanced mining capabilities and exclusive digital collectibles, adding significant value to the user experience.
For further details on COCA’s Q2 achievements and upcoming initiatives, visit the company’s blog.
Website: coca.xyz
COCA continues to redefine the crypto experience with its innovative solutions, seamless integrations, and user-focused approach. The company’s recent milestones and future plans highlight its commitment to leading the way in the digital financial landscape.
About COCA
COCA is a next-generation crypto super app designed to simplify and secure the crypto experience for users worldwide. With innovations in security, usability, and integration, COCA is at the forefront of the digital asset revolution. For more information, visit coca.xyz.
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VICTORIA, Seychelles, Aug. 7, 2024 /PRNewswire/ — KuCoin, a leading global cryptocurrency exchange, is excited to announce the launch of GemPool, its innovative new platform that allows users to acquire token airdrops as a reward for staking their crypto assets. This unique product is designed to provide early access to emerging crypto projects while offering rewards for their existing holdings at zero cost. By staking respective tokens in separate pools, users can farm new tokens and gain a foothold in the latest developments within the cryptocurrency market.
GemPool also offers flexible staking terms, allowing users to stake and un-stake their assets anytime within the designated period without lock-up restrictions. This flexibility ensures that users can manage their assets according to their preferences and market conditions. Additionally, GemPool provides zero-cost rewards, enabling users to earn tokens while holding their existing cryptocurrencies. By staking their tokens, users contribute to the growth of promising new projects, supporting innovation and development within the crypto space. With completion of tasks offered, users are eligible to earn multiplier bonus and receive more rewards.
Users can participate by staking KCS, USDT, or other specified assets in designated pools. The rewards are earned according to the respective yields of the pools, ensuring a fair and exciting experience for all users.
For more information on how to participate and the benefits of GemPool, please visit the KuCoin GemPool page.
About KuCoin
Launched in September 2017, KuCoin is a leading cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community engagement. It offers over 900 digital assets across Spot trading, Margin trading, P2P Fiat trading, Futures trading, and Staking to its 34 million users in more than 200 countries and regions. KuCoin ranks as one of the top 6 crypto exchanges. KuCoin was acclaimed as “One of the Best Crypto Apps & Exchanges of June 2024” by Forbes Advisor and has been included as one of the top 50 companies in the “2024 Hurun Global Unicorn List”. Learn more at https://www.kucoin.com/.
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Latest News
Trust Wallet Launches Gamified Education Platform and Loyalty Program to Enhance and Reward Web3 Learning
DUBAI, UAE, Aug. 7, 2024 /PRNewswire/ — Trust Wallet, the world’s leading self-custody Web3 wallet and Web3 gateway trusted by over 130 million users, has launched Trust Wallet Quests, a gamified education platform within the Trust Wallet mobile app which encourages users to earn points while exploring and learning about Web3.
Users can engage in task-based challenges ranging from quizzes to complex problem-solving scenarios composed of various DeFi and Web3 activities, all designed to deepen their understanding of blockchain technology and decentralized applications (dApps), and expose them to exciting opportunities within Web3. As an incentive, users will earn Trust Points, a loyalty-based points system designed to reward user activity within the Trust Wallet mobile app. With Trust Points, users can earn rewards upon the completion of specific tasks, making Web3 more rewarding and fun.
In the future, Trust Points will offer additional gamification features, such as unlocking achievements, badges, and levels. This interactive approach not only boosts individual learning but also contributes to broader community education and adoption of decentralized technologies, making Trust Wallet Quests a dynamic and exciting way to reward loyal users and engage with communities in Web3.
On the motive for launching Trust Wallet Quests, Eowyn Chen, CEO of Trust Wallet, stated: “The complex technology and fast-paced industry can be intimidating for both new and seasoned users. The introduction of Quests on Trust Wallet further solidifies our commitment to making it easier for millions to navigate Web3, aligning perfectly with our mission to build a seamless Web3 hub and open ecosystem for all.”
Nate Zou, Head of Product at Trust Wallet, highlighted what to expect from Trust Points and Trust Wallet Quests: “Trust Points and Quests are just the first iteration of a much-needed reward system for our community. Within 2024, we have plans to build on this, combining rewards with many of our other web3 product offerings. Overall, we envision this points system not only changing how users engage with Trust Wallet, but also encouraging more collaboration between Trust Wallet, our users and other web3 ecosystem players.”
Trust Wallet Quests and Trust Points are now available on both Android and iOS versions of Trust Wallet’s mobile app. Download here: https://short.trustwallet.com/TrustWalletQuests
About Trust Wallet
Trust Wallet is the self-custody, multi-chain Web3 wallet and Web3 gateway for people who want to fully own, control, and leverage the power of their digital assets. From beginners to experienced users, Trust Wallet makes it easier, safer, and convenient for millions of people around the world to experience Web3, access dApps securely, store and manage their crypto and NFTs, buy, sell, and stake crypto to earn rewards, all in one place and without limits.
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