U.K. private equity company Hg has signed a definitive agreement to acquire a majority stake in Riskalyze.
Riskalyze CEO Aaron Klein will continue to lead the firm he founded as part of the deal, the terms of which were not disclosed. He will reinvest the majority of his holdings into the recapitalized firm and continue to serve as CEO and a member of the board of directors.
The transaction is subject to customary closing conditions and regulatory approvals and is expected to close before Sept. 30, the companies said.
Hg's Sebastien Briens, Max Dewez and Richard Earnshaw will join the Riskalyze board after the deal closes. Additional board appointments are expected to be announced in the "near future," the firms said.
Riskalyze's client and portfolio risk technology platform supports tens of thousands of financial advisors who use it to manage millions of client accounts with over $400 billion in assets.
