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Sovereign Capital backs MBO of Asset Control

Alessia Argentieri
11 September 2018

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Sovereign Capital Partners has backed the management buyout of London-based Asset Control, a provider of financial data management software.

The GP will support Asset Control's existing management team, led by CEO Mark Hepsworth, who was appointed in August 2016.

Following the deal, Brian Traquair, former president of Capital Markets at SunGard Data Systems, will join the company's management team and will be appointed chair.

The GP is currently investing from its fourth buyout fund, which held a final close on its £395m hard-cap in August 2014 and makes equity investments of up to £50m.

Company
Established in 1991, Asset Control specialises in financial data management and offers a range of applications and software to help banks, asset managers and various financial institutions to manage costs and improve data governance and risk management.

In addition, Asset Control provides consulting, training and data management expertise to support its clients. The business is headquartered in London and has offices in the US, Singapore and the Netherlands.

People
Sovereign Capital Partners – Neil Cox (partner); Rob King, Bala Krishnan, Sunil Jain (investment directors).
Asset Control – Mark Hepsworth (CEO).

Advisers
Equity – William Blair & Company (corporate finance); Alcentra (debt advisory); Pinsent Masons (legal); PwC (commercial due diligence); KPMG (financial due diligence, tax); Vista Insurance (insurance due diligence).