SGX pushes $270m into private equity fund by 7RIDGE
The fund will be used to acquire Trading Technologies International, Inc.
The Singapore Exchange (SGX) will be investing approximately $269.6m (US$200m) as a Limited Partner (LP) in a private equity fund managed by a growth equity firm, 7RIDGE.
The fund will be used to acquire trading software provider, Trading Technologies International, Inc. The bourse said it aims to “strengthen investors’ participation in the derivatives marketplace across major exchanges globally.”
The investment will be funded with a mix of cash and borrowings and is expected to close before the end of the year.
SGX said the investment is also not expected to materially impact SGX’s near-term earnings.