Carlyle, a global investment firm with $465 billion of assets under management, has agreed to acquire London-headquartered Intelliflo and its US-based subsidiaries from Invesco in a deal which could rise to $200 million.
The financial terms of the deal include an upfront payment of $135 million, expected in Q4 2025 pending certain closing conditions, complemented by potential future earn-out arrangements valued at up to $65 million. The equity for the deal is being provided by Carlyle’s €3 billion European technology fund, Carlyle Europe Technology Partners V.
Established in 2004, Intelliflo offers cloud-native practice management software for independent financial advisors in the UK. Originally acquired by Invesco in 2018, Intelliflo serves over 30,000 professionals across approximately 2,600 advisory firms. The company’s platform integrates with more than 120 third-party applications, providing client onboarding, compliance, CRM, financial planning, and reporting services.
The acquisition includes Intelliflo’s US-based subsidiaries, including RedBlack, which provides Software-as-a-Service-based portfolio rebalancing and accounting tools, and Intelliflo Portfolio, a portfolio management software solution for US registered investment advisors.
The US subsidiaries will now merge and operate as a standalone business under the RedBlack name, managed by a separate team with Bryan Perryman serving as CEO. According to a joint statement, this separation “will allow both businesses to better serve and focus on their existing customers and markets”, with Intelliflo focusing on delivering software for the UK and Australian markets and RedBlack focusing on the US market.
The deal follows Carlyle’s previous sale of Calastone, a global funds and settlement network, to SS&C Technologies for $1 billion in July. Carlyle had acquired a majority stake in Calastone in 2020.
Source: https://www.fintechfutures.com/
