UK private equity firm Montagu buys Temenos’ fund accounting software business Multifonds for around $400m
Montagu, a UK-based mid-market private equity firm with over €14 billion in assets under management, has acquired Temenos’ fund accounting software business Multifonds in a deal worth around $400 million.
Montagu acquires Temenos’ fund administration software business
Founded in 1995, Multifonds is a provider of fund administration software. Its tech covers investor servicing, fund and portfolio accounting, and transfer agency, alongside KYC and AML compliance offerings.
The platform is currently used to administer around $10 trillion in assets and supports more than 30,000 funds across 35 jurisdictions.
Temenos acquired Multifonds a decade ago for €235 million ($243 million). Among its users are multinationals like JP Morgan, Citi, BNP Paribas, and Credit Suisse, as well as Luxembourg’s Alter Domus, Malaysia’s AHAM Capital, and Peru’s Credicorp Capital.
Once the deal is completed, which is expected in Q2 2025, Montagu says Multifonds “will operate as a new standalone company, led by its existing management team”.
Temenos says the sale of Multifonds “simplifies the Temenos product portfolio and aligns with Temenos’ new strategic and operational plan to drive above-market growth”.
The vendor went through a major leadership shake-up in 2023-24. It is currently under the new CEO, Jean-Pierre Brulard, who started his tenure in May last year.
A string of other senior management appointments followed, including Barb Morgan as new chief product and technology officer (CPTO) and Sairam Rangachari as chief product officer (CPO).
