Apax Partners is in pole position to acquire the treasury and capital markets division of Finastra in a deal valued at around $2bn, including debt, according to sources cited by Reuters.

The UK-based private equity firm is reported to be in advanced negotiations following a formal sale process led by Vista Equity Partners, which has held a majority stake in Finastra since 2017. Final bids have been submitted, and Apax has emerged as the leading candidate. However, sources cautioned that the deal is not yet final, and competing offers could still surface before signing.

Finastra’s TCM division provides trade execution, risk management, and regulatory compliance software for financial institutions—mission-critical infrastructure that continues to attract investor attention amid macroeconomic uncertainty and rising demand for digital transformation.

Finastra was formed through Vista’s CAD4.8bn acquisition of D+H Corp, later merged with Misys, an existing portfolio company. The proposed transaction would represent a significant liquidity event for Vista’s investment in the fintech platform and underline the continued appetite for carve-outs in enterprise software.

Apax, Vista, and Finastra have all declined to comment on the ongoing talks.

Source: Reuters