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

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).

EQT Press Office, press@eqtpartners.com

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