Private equity firm General Atlantic (GA) has invested DKr 728 million (about $127 million), in Saxo Bank, a provider of investment banking services.
“We’re encouraged by Saxo Bank’s multi-product trading capabilities, its access to the deepest liquidity pools, and its ongoing commitment to world-class technology. Together, these factors will allow Saxo Bank to capitalise on the strong secular trends driving increased electronic trading globally. This, in turn, will secure Saxo Bank’s leadership position for years to come,” comments Florian Wendelstadt, managing director at GA.
The co-CEOs of Saxo Bank, Kim Fournais and Lars Seier Christensen hold the majority of Saxo’s shares, and continue to lead the bank. Wendelstadt, and principal Jonathan Kerngold, both based in GA’s London office, will join the Saxo Bank board of directors.
According to the partners, the investment supports Saxo’s growth strategy – with the stated “next big aim” being to establish a stronger market presence in both the US and Asia.
“General Atlantic’s approach to investing makes it a very attractive investor to Saxo Bank,” says Christensen. “The firm offers far more than just capital. It has deep experience and expertise in information technology, a global perspective and worldwide presence, a long-term approach to investments, and it provides sustained strategic assistance for its portfolio companies.”