Five Arrows has acquired enterprise data management and investment platform solutions provider Rimes. The transaction is expected to close in the coming months, subject to regulatory approval.
Rimes’s data management solutions are designed to improve cost efficiency and reduce operational risk, and help clients to make better decisions using reliable data, the firm says. The company is currently owned by private equity firm EQT.
Five Arrows, the alternative assets arm of Rothschild & Co., specialises in B2B data and software sectors for a set of end-markets, including financial technology.
Brad Hunt, Rimes CEO, commented: “Rimes has been on a significant growth trajectory over the last few years. Today, Rimes combines the customer-centric ethos and deep domain expertise with the industry’s most modern technology and an innovative, comprehensive product offering designed to address the investment data challenges of the future. We look forward to joining forces with Five Arrows to build upon our strong momentum going forward.”
Vivek Kumar and Sacha Oshry, partners at Five Arrows Principal Investments, added: “We share in Rimes’ strategic vision centred around solving financial institutions’ most complex data problems across geographies, asset classes and customer types.”
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