Black Mountain Systems Reaches Summit, Sells to Stone Point Capital
Buy-side provider seals purchase with private equity.
The transaction will enable Black Mountain to hasten its pace of expansion and allow its management team to deploy additional resources for a broader roll-out of its product- and service-based Everest offerings, which focus on collateralized loan obligations (CLOs), bank loans, and other fixed income and alternatives assets.
"We see tremendous strategic value in Everest's highly configurable design, broad functionality and capacity to empower decision makers with complete and accurate information," says Charles A. Davis, CEO of Stone Point in New York. "We also recognize the technical and client-based expertise that the Black Mountain team brings to its clients, and we look forward to working with the management team to help Black Mountain reach its full potential."
"This is the right move for Black Mountain's long-term strategy and will enable us to better serve our customers and employees," adds Kevin MacDonald, Co-CEO of Black Mountain Systems. "I look forward to working with Stone Point as Black Mountain enters its next phase of innovation, growth and leadership."
Terms of the buy were not disclosed. SunTrust Robinson Humphrey acted as financial advisor to Black Mountain Systems.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Emerging Technologies
Deutsche Bank toys with tokenizing, MayStreet sues LSEG, S&P Global adds data to Databricks, and more
The Waters Cooler: A German consortium looks to enter a deal with the EU on AI datacenters; MayStreet’s founder sues LSEG; and buzz about product expansions in this week’s news roundup.
Everything’s a chatbot. Soon, your sales trader might be, too.
Morgan Stanley, Citi, and Kepler Cheuvreux are among firms considering making their internal AI assistants available to clients.
Waters Wavelength Ep. 319: Bloomberg IB chat and operational resiliency
Tony and Shen discuss Bloomberg’s addition to IB chat, common threads in our Voice of the CTO series, and op resiliency.
As agentic AI comes into play, buy side weighs outsourced options
Asset managers wanting to use sophisticated forms of AI must square their interest in the tool with mounting cost pressures.
Clearstream and SimCorp team up, Bloomberg goes dark, TT expands FX coverage and more
The Waters Cooler: Google’s AI mishaps, a new liquidity source for ASX customers, and new integrations can be found in this week’s news roundup.
Bloomberg’s chatbots streamline external data sharing, OTC trading
The vendor details the expansion of chatbot support outside of a firm’s enterprise, and addresses user reservations about cost and spambots.
Symphony introduces Cloud9 mobile app
The messaging and collaboration platform is extending the “turret-like” technology and connectivity of Cloud9 to smartphones.
EU banks want the cloud closer to home amid tariff wars
Fears over US executive orders have prompted new approaches to critical third-party risk management.
