12 April 2024

EQT to sell data manager Rimes Tech

EQT has entered into an agreement to sell Rimes Technologies, a data management company, to Five Arrows, the alternative assets division of Rothschild & Co. According to Bloomberg's sources, the deal is valued at between €800 million and €900 million, including debt.

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Founded in 1996, Rimes Tech specializes in providing data and investment management solutions to a variety of clients, including well-known institutions such as Bank of New York Mellon and Shell. Rimes has a strong position in the industry, providing services to 60 of the world's leading asset managers, and its extensive client base collectively manages more than $75 trillion in assets. EQT originally invested in Rimes in 2020.

EQT, which listed on Nasdaq Stockholm in 2019, now oversees approximately €232 billion. The company focuses on investments in mid- and large-cap companies in Europe and North America, particularly in the healthcare, technology and services sectors.