Permira has agreed to sell credit data provider Octus Intelligence to LSEG in an all-cash deal valuing the business at $3.5bn (£2.7bn).
The transaction represents the sixth strategic exit for Permira funds in 2026 following a four-year holding period. Permira acquired Octus in 2022 alongside founder and chief executive Kent Collier, driving growth through artificial intelligence investments and bolt-on acquisitions including FinDox, Sky Road and LevPro.
During the investment period, Octus expanded its annual recurring revenue threefold and nearly doubled its product suite. The firm now supplies intelligence, data and workflow software to more than 40,000 subscribers across institutional asset managers, investment banks, law firms and professional services firms globally.
Evercore and Goldman Sachs served as financial advisers to Permira and Octus, with Weil, Gotshal and Manges and McDermott Will and Schulte providing legal counsel. The transaction remains subject to customary regulatory approvals.
Daniel Brenhouse and Andrew Young, partners at Permira, said: "Octus is a strong example of how we invest: Services and Technology working as one team, pairing deep sector expertise with a digital core to help founder-led businesses become companies that strategic buyers want to own. When we invested in 2022, we saw a market-leading credit franchise with trusted, proprietary content. Over the course of the partnership, Kent and the team have turned that into an AI-native platform that credit professionals use in their everyday workflows. It has been a privilege to partner with Octus, and we wish Kent, the team and LSEG every success."
Kent Collier, chief executive of Octus, added: "Permira has been a true partner through a transformational period for Octus. Their technology expertise and support for our strategy to expand our offerings beyond intelligence and content helped us expand our portfolio of products, both organically and inorganically, to all things credit, from fundamental data, document management and portfolio management tools. Our AI strategy and offerings have accelerated under their ownership, allowing us to become a market-leading AI platform for credit. We are extremely grateful to the wider Permira team for their partnership and excited for what lies ahead with LSEG."
David Schwimmer, chief executive of LSEG, said: "Combining Octus’ leading proprietary data and intelligence with LSEG’s data and analytics business creates a powerful offering for our customers, and further accelerates our growth. Acquiring Octus enables LSEG to deliver best-in-class credit data, intelligence and workflows, across the liquidity spectrum, to a broader range of customers. LSEG’s existing data and analytics capabilities, alongside the acquisition of Trumid announced by Tradeweb and now the acquisition of Octus, position LSEG as a global leader in fixed income to partner with our customers throughout the trade lifecycle. I look forward to partnering with the team at Octus to continue to drive future growth."
