JC Flowers buys three trading businesses

The private equity investor has expanded its portfolio in the Asia Pacific region.
Financial services private equity investor JC Flowers is buying three trading venues from Chi-X Global Holdings.

The private equity group will acquire Chi-X Australia, Chi-X Japan and Chi-Tech Hong Kong for an ‘undisclosed fee’ with a view to completing the deal by the end of March 2016.

The announcement comes after Nasdaq acquired Chi-X Canada from Chi-X Group at the end of last year. The business is completely separate from BATS Chi-X Europe, which is owned by BATS Trading.

Instinet launched Chi-X Global in October 2011 and Bank of America, Goldman Sachs, Morgan Stanley and UBS all held a minority stake in the business by the end of that year.

Tal Cohen, chief executive officer of Chi-X Global, said he believes that JC Flowers has a deep appreciation of the markets in which the businesses operate.

He added: “JC Flowers… shares our vision of leveraging technology to develop innovative market-level solutions that enhance investor performance.”

Thierry Porte, managing director of JC Flowers, said that the investment group is hoping to “accelerate growth” through some enhancements of the platform.

He said this would be through including new investment products and markets, and by using the company’s network of contacts across the region.

JC Flowers’ current investments include Shinsei Bank of Japan; KT Capital, a Korean non-bank finance company; and SICOM, a provider of financial solutions and advisory services in India.