Singapore Exchange (SGX) has announced it will be investing approximately US$200 million ($269.6 million) as a limited partner in a private equity fund managed by 7RIDGE. The fund is acquiring US-based Trading Technologies International (TT), a global provider of trading software, infrastructure and data solutions for listed futures and options.
According to a report by the Financial Times on Nov 1, London-based 7Ridge is owned by Carsten Kengeter, the former chief of Deutsche Börse. The deal values TT at slightly less than US$500 million. Other limited partners that will invest in 7RIDGE include CBOE Global Markets.
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