Quantile sold to minority owner Spectrum for £11m

Following this transaction, First Derivatives will retain a minority stake in Quantile. The cash consideration represents a total gain of £10m on the initial cost of the investment and a £7m gain on the current carrying value, according to a statement.

In January 2021, Spectrum Equity injected $51m in growth capital funding into Quantile. The US-based firm is currently investing from its ninth-generation fund, which closed on $1.5bn in May 2020.

Company
Quantile is an optimisation engine providing compression and risk rebalancing services to banks, hedge funds and other financial institutions.

In the year to December 2019, Quantile reported net profit of £700,000 and reported revenues of £8.6m. The company was founded in 2015 and based in London.

People
Spectrum Equity – Mike Farrell (managing director); Parag Khandelwal (principal).

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• Topics
• Expansion
• UK / Ireland
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• Secondary purchase
• United Kingdom