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Rimes changes hands, plans accelerated expansion as Five Arrows completes acquisition

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Rimes, a provider of EDM-as-a-Service and investment platform solutions, is in new hands following the completion of its acquisition by Five Arrows, the private equity arm of Rothschild & Co. The partners say the acquisition provides a foundation for accelerated global expansion.

The deal was announced in April 2024 and sees Rimes move on from ownership by Swedish private equity firm EQT Partners, which acquired the company in February 2020 firm saying it had made a ‘significant growth investment’ to work with Rimes CEO, president and co-founder Christian Fauvelais to expand the company’s data management solutions and extend capabilities and partnerships.

In June 2021, Brad Hunt, formerly lead of strategy and business development at BNY Mellon, was appointed as CEO of Rimes with a focus on developing the company’s value proposition by delivering modernised outsourced data management solutions addressing industry issues of data complexity and cost. Fauvelais retained a role on the Rimes board and provides strategy guidance.

Commenting on Rimes’ latest acquisition by Five Arrows, Hunt says: “Rimes is well positioned to help shape the future of investment data solutions by leveraging its customer-centric ethos, deep domain expertise and cutting-edge technology. I look forward to helping more clients achieve their goals through our flagship benchmark data services, outsourced data management capabilities, investment management platform, and AI services. Our impressive growth over recent years reflects our commitment to innovation and excellence, and we will accelerate this with Five Arrows.”

Rimes was set up in New York in 1996 to provide managed data services with a focus on index and benchmark data. It has since been developed to offer a portfolio of data management solutions spanning EDM-as-a-Service, index and benchmark data management solutions, security and price master services, ESG data management solutions, ETF data management services, and data distribution and warehousing services.

The company’s Matrix investment management platform, which was acquired in October 2021 as part of Matrix IDM, a Sydney, Australia-based provider of a cloud native investment data management platform, is designed to help asset owners, institutional investors and asset managers solve complex data management solutions and make better informed investment decisions.

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