Simpson Thacher is representing investment funds managed by KKR in connection with their agreement to acquire OSTTRA, a leading provider of post-trade solutions for the global OTC market, for a total enterprise value of $3.1 billion, subject to customary purchase price adjustments. KKR is making the investment through its North American private equity strategy. The transaction, which is subject to receipt of required regulatory approvals and satisfying other customary closing conditions, is expected to close in the second half of 2025.
Established in 2021 as a joint venture between CME Group and S&P Global, OSTTRA serves the global financial ecosystem with a comprehensive suite of critical post-trade offerings across interest rates, FX, credit and equity asset classes. OSTTRA provides end-to-end connectivity and workflow solutions to banks, broker-dealers, asset managers, and other market participants across trade processing, trade lifecycle, and optimization.
The Simpson Thacher team includes Marni Lerner, Naveed Anwar, Louis Argentieri, Robert Hausen, Sarika Pandrangi, Aydin Benoit-Savci, Marissa Train and Nick Redfield (M&A); David Rubinsky, Alan Fenyes and Mtume Sangiewa (Executive Compensation and Employee Benefits); Marcy Geller, Sophie Staples, Ruoxi Zhang, Elizabeth Trask and Jemma Li (U.S. Tax); Sarah Lindley and Kristin Shelley (U.K. Tax); James Talbot, Dewey Kang and Chandler Gerard-Reimer (U.S. Intellectual Property); Luqman Meedin and Ruben Tjon-A-Meeuw (U.K. Intellectual Property); Christopher Brown and Patrick Wolff (Credit); Krista McManus (Real Estate); Steve DeLott (Insurance); Clare Gaskell and Neha Goyal (U.K. Corporate); and Peter Guryan, Étienne Renaudeau, James Logie and Kelly Karapetyan (Antitrust).