Five Arrows Emerges As The New Owner Of Rimes

EQT and its co-stakeholders have approved the sale of Rimes to Five Arrows, in a transaction that, as per reports, evaluates the data entity at about €800 million to €900 million.

Established in 1996, Rimes partners with 60 of the elite asset managers globally, along with the 10 biggest servicers worldwide, assisting them in solving intricate data problems.

EQT Promises Customers The Ability To Take Better Investment Decisions

The company’s data management solutions are fueled by its exclusive multi-user cloud technology system. It promises to provide customers with the ability to take better investment decisions with dependable data while minimizing operational risk and boosting cost efficiency.

EQT committed capital to Rimes in 2020, which led to the company’s development into a complete Enterprise Data Management as a Service and Asset Management Platform

Constantin Sabet d’Acre and Seif Khoufi, Director and Managing Director, respectively of Five Arrows, stated that the firm is impressed with the Rimes team. Sabet added that he is overwhelmed with their Aspirational vision and their outstanding history of expanding Rimes with a customer-focused approach

EQT is an international investment organization located in Sweden. The assets under its management are allocated to private equity, growth equity, real estate, infrastructure, and venture capital in Asia Pacific, North America, and Europe.

In 2022, EQT managed US$227 billion worth of assets. It held the position of the third biggest private equity firm in the world based on capital raised. Last month, German Bidco GmbH, the parent company, made a buyout bid to EQS Group AG.

EQT Entered The Public Market Through An IPO In 2019

EQT is removing its Frankfurt Stock Exchange listing, with the process expected to finish on 6 May 2024.

The firm was established by Investor AB, AEA Investors, and SEB. It created its venture capital arm EQT Ventures in 2016 and entered the public market through an IPO in 2019.

The company and its partners have offices in Zurich, Warsaw, Stockholm, Singapore, Shanghai, Oslo, New York, Munich, Milan, Madrid, Luxembourg, London, Hong Kong, Helsinki, Guernsey, Frankfurt, Copenhagen, and Amsterdam.

In 2019, EQT held a 50.01% stake in investment entity Piolin BidCo, along with the two minority investors Miles Capital and Alba Europe.

In 2021, the company bought Life Sciences Partners with roughly €2.2 billion in assets under management. The latest development is geared towards enhancing its equity by giving a bigger player the opportunity to take the firm to the next level. It’s not clear whether the acquisition includes integrating EQT employees into the Five Arrows team.