Swiss core banking technology provider Temenos has sold its asset administration business, Multifonds, to Montagu Private Equity for $400 million.
Founded in 1995, Multifonds provides investment accounting and transfer agency software, supporting over $10 trillion in assets across 30,000 funds in 35 jurisdictions. The platform facilitates net asset value calculations, intra-day investment management, and investor lifecycle support, including Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance. Major financial institutions like JPMorgan, Citi, BNP Paribas, and Credit Suisse rely on its services.
Temenos initially acquired Multifonds in 2015 for $243 million. The divestiture is part of Temenos‘ strategic and operational plan to focus on its core banking solutions and drive above-market growth.
Montagu, a seasoned investor in fund administration technology, plans to collaborate with the Multifonds executive team—who also invested in the buyout—to facilitate a seamless transition.
Daniel Fischer, Partner at Montagu Private Equity, stated: “We have long admired Multifonds as a highly attractive global platform, providing mission-critical fund accounting and transfer agency solutions to blue-chip customers. This aligns strongly with our investment criteria in a core sector for Montagu.”
The transaction is expected to close in Q2 2025.