BOSTON, May 22, 2006 – TA Associates, a leading buyout and private equity firm, today announced it has completed its acquisition of eSecLending, a global securities lending manager, from Old Mutual plc. TA, eSecLending and Old Mutual announced the planned sale of eSecLending to TA on March 28, 2006.
eSecLending manages customized securities lending programs for some of the largest global institutional investors, including several of the largest pension funds and investment management companies in the U.S., UK and Europe. The firm has auctioned over $850 billion in assets across multiple asset classes since inception and currently has approximately $25 billion in cash collateral assets under management, up from $15 billion as of December 31, 2005. The firm awards principal securities lending business through a competitive auction process that has provided clients with higher returns compared to traditional program structures, improved transparency and objective criteria upon which to make award decisions.
Founded in 1968, TA Associates is one of the world’s leading private equity firms and has invested over $1 billion in financial services and financial technology companies. Some of TA’s prior investments in the sector include Affiliated Managers Group, AIM Management Group (AMVESCAP), Datek Online Holdings (Ameritrade Holding Corporation), GlobeOp Financial Services, The IntercontinentalExchange, ION Trading Group, The Island ECN (Instinet Group Incorporated), Lava Trading, Numeric Investors and Thomson Advisory Group (PIMCO).
Senior bank financing was provided to TA by a group of lenders led by Freeport Financial LLC.
TA Associates
Founded in 1968, TA Associates is one of the largest and most experienced private equity firms. With offices in Boston, Menlo Park and London, the firm manages $10 billion in capital and has invested in more than 360 companies. TA Associates provides growth equity capital, leveraged recapitalization and management buyout financing primarily for technology, financial services, business services, consumer and healthcare businesses. More information about TA Associates can be found at www.ta.com.
About Freeport Financial LLC
Freeport Financial LLC is a leading provider of capital and leveraged finance solutions to middle market companies with private equity sponsor ownership. Freeport Financial LLC invests at all levels of the capital structure but focuses primarily on providing cash flow and asset based lending products including senior secured, junior secured and unsecured loans to support leveraged buyouts, recapitalizations, and corporate refinancing. Founded by a group of experienced corporate finance and capital markets professionals and located in Chicago, Freeport Financial LLC has the industry expertise and product knowledge to serve the financing needs of private equity sponsors and their middle market companies..
Safe harbor statement under the U.S. Private Securities Litigation Reform Act of 1995: Statements made in connection with this release which are not historical fact, such as forward-looking statements concerning future financial performance and growth, involve risk and uncertainties. Such statements are subject to various factors that could cause actual results to differ materially from those set forth in the forward-looking statements. Any forward-looking statements represent the best judgment of TA Associates as of the date of this release. TA Associates disclaims any intent or obligation to update any forward-looking statements. |
