Swiss core banking vendor Temenos has sold its asset administration business, Multifonds, to Montagu Private Equity for $400 million.
Founded in 1995, Multifonds offers proprietary investment accounting and transfer agency software, managing over $10 trillion in assets. Its solutions assist with various back- and middle-office fund services, including net asset value calculations, intra-day investment management, and support for investor lifecycles related to Know Your Customer (KYC) and Anti-Money Laundering (AML) regulations.
The platform currently administers approximately $10 trillion in assets, serving more than 30,000 funds across 35 jurisdictions. Notable clients include JPMorgan, Citi, BNP Paribas, and Credit Suisse. Temenos acquired Multifonds in 2015 for $243 million.
Montagu, a well-established investor in fund administration technology, plans to collaborate with the Multifonds executive team, who invested in the buyout, during the transition. Daniel Fischer, partner at Montagu, expressed admiration for Multifonds, highlighting its position as a critical global platform that provides essential fund accounting and transfer agency solutions to top-tier customers, aligning with Montagu’s investment strategy.
Temenos stated that the sale “simplifies the Temenos product portfolio and aligns with Temenos’ new strategic and operational plan to drive above-market growth.” The transaction is expected to be finalized in Q2 2025.