KKR has agreed to invest $220m in Premialab, a global provider of data, analytics, and risk management solutions for quantitative investing.

The transaction marks the private equity firm’s first growth technology investment in the Middle East.

The investment is being made through KKR’s Next Generation Technology Growth Fund III. It is being completed alongside existing shareholder Balderton Capital.

Premialab was founded in 2016 by Adrien Géliot and Pierre Trecourt. The company provides data and analytics on banks’ quantitative investment strategies products, which package systematic strategies into swaps.

KKR said the capital will support Premialab’s continued global expansion. The funding will also be used to develop core operational systems and scale its recently launched execution product.

The execution platform was developed alongside Eurex to broaden access to quantitative investment strategies products. Premialab is headquartered in Dubai.

The deal adds to KKR’s growing exposure to the Gulf region. The firm has invested around $2bn in the Middle East over the past 10 months, including infrastructure and data centre assets.

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