Clearlake Capital and Motive Partners to acquire BETA
21 March 2022 UK
Image: Dmitry
Clearlake Capital Group (Clearlake) and Motive Partners (Motive) have partnered to acquire the BETA+ assets from London Stock Exchange Group (LSEG).
The acquisition is expected to close in the second half of 2022, subject to regulatory approval.
LSEG’s BETA+ assets encompass securities processing, custody, clearing, and asset servicing technology, as well as Maxit — cost and tax basis reporting software.
Front-end client solutions collectively known as Digital Investor are also included in the mandate.
By acquiring the BETA+ assets from LSEG and creating a standalone platform, Clearlake and Motive aim to execute on a buy and build strategy, supported by Clearlake’s proprietary O.P.S. framework and Motive’s value creation plan.
Additionally, Clearlake and Motive Partners have formed another long-term partnership with LSEG, where LSEG will provide content, data, and tools to BETA+ and other portfolio companies.
Behdad Eghbali, co-founder and managing partner, and James Pade, partner of Clearlake, say: “BETA+ has established a strong position in the self-clearing technology space and broader wealth management ecosystem with a reputation for meeting the unique needs of global financial institutions and their clients. We look forward to partnering with Motive Partners, the BETA+ team, and LSEG.”
Stephen Daffron, co-founder and industry partner of Motive Partners, comments: “BETA+, together with our other portfolio companies, will be focused on creating frictionless, digital-first experiences for clients, advisors, and home office personnel with streamlined processes, reduced costs, and increased retention and satisfaction, ultimately making it easier for wealth clients to obtain solutions which address their financial needs.”
The acquisition is expected to close in the second half of 2022, subject to regulatory approval.
LSEG’s BETA+ assets encompass securities processing, custody, clearing, and asset servicing technology, as well as Maxit — cost and tax basis reporting software.
Front-end client solutions collectively known as Digital Investor are also included in the mandate.
By acquiring the BETA+ assets from LSEG and creating a standalone platform, Clearlake and Motive aim to execute on a buy and build strategy, supported by Clearlake’s proprietary O.P.S. framework and Motive’s value creation plan.
Additionally, Clearlake and Motive Partners have formed another long-term partnership with LSEG, where LSEG will provide content, data, and tools to BETA+ and other portfolio companies.
Behdad Eghbali, co-founder and managing partner, and James Pade, partner of Clearlake, say: “BETA+ has established a strong position in the self-clearing technology space and broader wealth management ecosystem with a reputation for meeting the unique needs of global financial institutions and their clients. We look forward to partnering with Motive Partners, the BETA+ team, and LSEG.”
Stephen Daffron, co-founder and industry partner of Motive Partners, comments: “BETA+, together with our other portfolio companies, will be focused on creating frictionless, digital-first experiences for clients, advisors, and home office personnel with streamlined processes, reduced costs, and increased retention and satisfaction, ultimately making it easier for wealth clients to obtain solutions which address their financial needs.”
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