Spectrum Equity invests $51m in OTC firm Quantile Technologies
Quantile Technologies, a portfolio optimisation firm based in the UK, has received $51 million in investment from Spectrum Equity.
The injection is Quantile’s first publicised funding
The minority investment places Spectrum’s managing director, Mike Farrell, onto the Quartile board of directors. The latter says the money is funding “the next phase of growth”.
Quantile provides an optimisation engine designed to offer risk rebalancing to banks, hedge funds, and financial institutions.
Launched in 2017, it claims its client can reduce counterparty risk and increase returns. The firm says it has already eliminated $230 trillion in margins.
“Quantile’s risk management and optimisation technology has proven to deliver significant value for its clients,” says Farrell.
He notes that the firm has tremendous potential for the company to “fundamentally transform the derivatives market”.
Stephen O’Connor, Quantile chairman, says the new relationship with Spectrum allows his firm to “drive further risk management innovation in the financial services industry.”
