Temasek, an investment firm based in Singapore, has agreed to acquire stake in Virtu Financial, a technology enabled market maker and liquidity provider to the global financial markets.
Temasek will acquire nearly a 10% stake in Virtu Financial for about $180m from Silver Lake, according to a Bloomberg report.
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Douglas Cifu, CEO of Virtu, said: "Their extensive knowledge and relationships in Singapore, Asia and the Far East will be particularly beneficial as we look to expand into new asset classes and geographies."
Mike Bingle, a managing partner of Silver Lake and a director of Virtu, said: "Silver Lake is proud of its investment in Virtu, and we look forward to participating in the Company’s future growth alongside Temasek as an investment partner. We value their insights and believe they can add significant value to Virtu as a direct investor."
Upon completion of the acquisition Mike Bingle will continue to serve as a director on Virtu’s Board.
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