Montagu, a leading private equity firm, has announced that it has agreed to acquire Multifonds in a carve-out transaction from its corporate parent, Temenos AG (“Temenos”).

Founded in 1995, Multifonds is a leading global provider of proprietary investment accounting and transfer agency software, used to administer more than $10tn of assets, making it a key contributor to the global financial system. Multifonds products perform a range of highly critical back- and middle-office fund services tasks, such as net asset value calculations, intra-day investment management, and investor lifecycle support across Know Your Customer (KYC) and Anti-Money Laundering (AML).

Multifonds has been part of Temenos – a Swiss-listed banking software provider – since 2015 and is one of the few leading pure-play software companies in the space, with a broad coverage of jurisdictions across APAC, Europe, and LATAM. The company is headquartered in Luxembourg with a presence in 15 other countries to support its loyal, global customer-base. After the transaction closes, Multifonds will operate as a new standalone company, led by its existing management team.

Montagu has known Multifonds for over 15 years and had developed a strong relationship prior to Temenos considering a sale. Montagu has built a long-term investment expertise in technology solutions for the financial services sector, with current portfolio companies including Harvest, ITRS, and ISI Markets. In addition, Montagu is a market leader in carve-out transactions from corporate parents, with over 30 carve-outs executed since 2002.

Daniel Fischer, Partner at Montagu, said: “We have long admired Multifonds as a highly attractive global platform, providing mission-critical fund accounting and transfer agency solutions to blue-chip customers.  This aligns strongly with our investment criteria in a core sector for Montagu.

Jan Stypulkowski, Partner at Montagu said: “We are delighted to bring Montagu’s sector knowledge and value creation expertise to support the company to unlock further international growth, and we look forward to working with Oded and his team to separate the business and start this exciting next chapter.”

Oded Weiss, Chief Executive Officer at Multifonds, said: “We are excited about partnering with Montagu for our next phase of growth as a standalone business. They have a deep understanding of the asset servicing industry and comprehensive carve-out expertise. Their shared ambition for future growth through existing and new clients aligns well with our vision for Multifonds.”