S&P Global and CME Group have agreed to sell their post-trade solutions business OSTTRA to global investment firm KKR.
The US$3.1 billion enterprise value deal is expected to close in the second half of the year. KKR will make the transaction primarily through its North American private equity funds, which has invested US$160 billion in capital and holds US$55 billion in available capital as of December 2024.
Established in 2021, OSTTRA provides post-trade solutions across interest rates, FX, credit and equities. The company operates multi-asset networks that connect counterparties through the trade lifecycle.
Operating profits from the company jumped in 2024, reaching US$26 million in Q4 – up 43% on Q4 2023’s US$18 million.
Profits from the sale will be divided evenly between its two founding companies.
KKR expects to increase OSTTRA’s global footprint and increase its technology investments as a result of the acquisition, with partner Webster Chua commenting: “We look forward to working with the OSTTRA team and leveraging our experience in the tech-enabled and financial services sectors to help the company further innovate and drive value for its customers.”
Guy Rowcliffe and John Stewart will continue to lead OSTTRA as co-CEOs, with the current management team remaining in their roles. The company’s 1,500 employees will be offered shared ownership in an equity ownership programme.
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