About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Blackstone Closes Deal to Take 55% Stake in Thomson Reuters Financial & Risk Business

Subscribe to our newsletter

Nearly nine months after Thomson Reuters signed a definitive agreement with Blackstone that would give the private equity firm a 55% stake and Thomson Reuters a 45% stake in the company’s financial and risk business, the deal is closed and the business rebranded as Refinitiv.

With backing from Blackstone, Refinitiv plans to invest in a number of key areas including content coverage, AI and analytics across its data platforms Elektron and Eikon for buy-side, trading, wealth and banking customers – of which it has 40,000 across 190 countries. It also plans to invest in enhanced capabilities for its leading platforms for trading, as well as in indices, risk management, and fighting financial crime.

Products and services that will be sold or discontinued have not yet been identified, although cuts are expected as Blackstone reshapes Refinitiv for future growth.

Martin Brand, a senior managing director at Blackstone, says: “We are pleased to close this landmark partnership transaction with Thomson Reuters. Blackstone is excited to invest in Refinitiv and pursue a business plan focused on accelerating growth through innovation in partnership with Refinitiv’s customers.”

For Thomson Reuters, the deal takes the financial and risk business out of the public eye and into private ownership, eradicating the burden of quarterly financial reporting, and providing capital to invest in innovation and recharge revenues that have been stagnant in recent years.

David Craig, former lead of the Thomson Reuters financial and risk business, and now CEO at Refinitiv, says: “This is a unique moment in our 160-year history as the financial and risk business of Thomson Reuters steps forward as Refinitiv. With the backing of our investors, Refinitiv will continue to deliver the critical data, insights and open technology infrastructure that the market has come to expect while driving progress for our customers across trading, risk, banking, wealth and investment management and in areas such as financial crime and ESG investment.”

The deal, made by a consortium led by Blackstone and including Canada Pension Plan Investment Board and GIC, values Refinitiv at $20 billion.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: How to optimise SaaS data management solutions

Software-as-a-Service (SaaS) data management solutions go hand-in-hand with cloud technology, delivering not only SaaS benefits of agility, a reduced on-premise footprint and access to third-party expertise, but also the fast data delivery, productivity and efficiency gains provided by the cloud. This webinar will focus on the essentials of SaaS data management, including practical guidance on...

BLOG

Canoe Intelligence Releases Data Innovation Hub for Alternative Investments Market

Canoe Intelligence, a financial technology company providing data management for the alternatives industry, has released the Canoe Data Innovation Hub and Canoe Asset Data Design Partnership, initiatives that go hand-in-hand to offer greater data granularity at both fund and asset level data. The solutions respond to client demand for access to asset-level data to solve...

EVENT

RegTech Summit London

Now in its 8th year, the RegTech Summit in London will bring together the RegTech ecosystem to explore how the European capital markets financial industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Regulatory Data Handbook 2023 – Eleventh Edition

Welcome to the eleventh edition of A-Team Group’s Regulatory Data Handbook, a popular publication that covers new regulations in capital markets, tracks regulatory change, and provides advice on the data, data management and implementation requirements of more than 30 regulations across UK, European, US and Asia-Pacific capital markets. This edition of the handbook includes new...