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EQT to sell data management tech firm Rimes to Five Arrows

April 15, 2024

Rimes:
- Provides enterprise data management and investment intelligence solutions for asset managers.
- Supported by EQT since 2020 with a significant growth investment.
- Offers Matrix IDM, acquired in 2021, and launched a new AI product division in the same year.
Acquisition by Five Arrows:
- EQT has agreed to sell Rimes to Rothschild & Co.’s alternative assets unit Five Arrows.
- Five Arrows has global assets under management exceeding €26 billion.
- Leveraged its long-term fund FALT and principal investments division FAPI for the acquisition.
- Transaction expected to close in the coming months, subject to regulatory approval.
Impact:
- Rimes CEO Brad Hunt believes the acquisition will build upon the company’s strong momentum.
- Five Arrows aims to unlock the next chapter of Rimes’ growth according to FAPI partners Vivek Kumar and Sacha Oshry.