Capital markets risk management tech specialist Numerix bought by Genstar Capital

Capital markets risk management tech business and quantitative research pioneer Numerix has been bought by private equity major Genstar Capital.

Numerix works in the multi-asset class pricing market, and says it is proud of its reputation for being able to price and manage risk for any derivative instrument – from vanillas to the most sophisticated exotic products – in addition to the entire spectrum of fixed income securities.

Scott Niehaus, director of Genstar, said, “Numerix is capitalizing on several macro tailwinds including the digital transformation of capital markets, continued complex regulatory requirements and substantial market volatility across asset classes and geographies.”

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The firm, which was founded in 1996, offers pre-trade price discovery through XVA trading, market and counterparty credit risk management, with its software used by banks, broker dealers and buy-side institutions including insurance firms, hedge funds, pension funds and asset managers.

Last year Genstar hit an $11.7bn final close for its tenth flagship fund and an overage vehicle, after just four months in the market.

The firm exceeded the $10.2bn hard cap for Genstar Capital Partners X, which closed on more than double the $5.5bn it collected for Fund IX two years earlier.

Genstar, which has about $35bn of assets under management, targets investments focused on targeted segments of the financial services, healthcare, industrials and software industries.

Recent deals from the firm include exiting clinical trials services company Advarra in a $5bn sale to Blackstone and the Canada Pension Plan Investment Board.

Source: Alt Assets

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