The firm was founded in 1996 and serves some of the biggest names in asset management globally, representing over $75 trillion in assets under management. Its clients range from Bank of New York Mellon Corp. in the U.S. to Shell Plc in the U.K. The partnership between EQT and Rimes dates back to February 2020, when EQT made a strategic investment in Rimes, aiming to bolster Rimes’ regulatory technology and data management solutions.
The company’s comprehensive suite of solutions includes Matrix IDM, an investment data management platform acquired in 2021, and a newly established AI product division. Five Arrows, with global assets under management exceeding 26 billion euros ($27.6 billion), operates through its long-term fund FALT and principal investments division FAPI. Brad Hunt, CEO of Rimes, expressed enthusiasm about the acquisition, noting that it will fuel Rimes’ ongoing momentum and growth trajectory.
On their part, Vivek Kumar and Sacha Oshry from FAPI echoed similar sentiments, affirming their excitement about partnering with Rimes to navigate complex data challenges and drive continued success across geographies and industries. Private equity firms are increasingly selling off their portfolio companies as market valuations return to normal levels following over a year and a half of dealmaking.