Funds advised by Apax Partners have agreed to acquire the Treasury and Capital Markets (TCM) division of Finastra, in a transaction that will carve out the unit into a standalone business focused on risk management and capital markets technology.

The TCM business supports over 340 financial institutions globally and is known for core solutions including Kondor, Summit, and Opics. These systems support trade lifecycle management, regulatory compliance, and operational infrastructure for financial institutions around the world.

The deal is designed to streamline Finastra’s portfolio while generating capital for reinvestment in its core banking and payments platforms. “This sale marks an important milestone for Finastra that will help further launch our next phase of growth,” said CEO Chris Walters. “It provides capital to accelerate our strategy and reinvest in our core business.”

Apax, which has a strong track record of backing enterprise software platforms and executing corporate carve-outs, plans to invest in technology, talent, and customer relationships to support TCM’s growth. “We see significant potential to accelerate innovation and performance as a standalone company,” said Apax Partner Jason Wright.

The transaction is expected to close in the first half of 2026, subject to regulatory approvals and consultation processes. Evercore served as lead financial advisor to Finastra and Vista Equity Partners, while Deutsche Bank advised Apax.

Apax’s recent investments include Paycor, Zellis, ECi Software, and IBS Software, underlining its longstanding commitment to the application software sector.

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