KKR, a global investment firm, today announced that investment funds managed by KKR have completed the acquisition of OSTTRA, a provider of post-trade solutions for the global OTC market, from S&P Global and CME Group.
The terms of the deal for OSTTRA equaled total enterprise value at $3.1 billion.
Established in 2021 as a joint venture between CME Group and S&P Global, OSTTRA serves the global financial ecosystem with a comprehensive suite of critical post-trade offerings across interest rates, FX, credit and equity asset classes. OSTTRA provides end-to-end connectivity and workflow solutions to banks, broker-dealers, asset managers, and other market participants across trade processing, trade lifecycle, and optimization.
Guy Rowcliffe and John Stewart will continue to lead the OSTTRA management team. Building on OSTTRA’s strong foundation as a trusted provider of critical market infrastructure, KKR will support the Company’s customer-centric growth by increasing OSTTRA’s investments in technology and innovation across its leading post-trade solutions platform.
KKR will also support OSTTRA in creating a broad-based equity ownership program to provide all of the company’s nearly 1,500 employees the opportunity to participate in the benefits of ownership.
Goldman Sachs & Co. LLC and BofA Securities, and Simpson Thacher & Bartlett served as financial and legal advisors, respectively, to KKR. Barclays served as financial advisor and Davis Polk served as legal advisor to S&P Global. Citi served as financial advisor and Skadden served as legal advisor to CME Group.
