Advent to Acquire Vermeg with ADIA Subsidiary Joining as Minority Co-Investor

Boston-headquartered private equity firm Advent has signed an agreement to acquire financial software provider Vermeg from Charterhouse Capital Partners and founder Badreddine Ouali, according to Securities Finance Times. A wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) is participating in the transaction as a minority co-investor.

Following completion of the transaction, Ouali will remain a shareholder and serve as vice chairman to support Vermeg's strategic and client priorities. Mike Ettling, an operating partner at Advent and current chairman of portfolio companies Sapiens and Syspro, will take over as chairman of Vermeg.

Vermeg provides post-trade processing and collateral management technology through its capital markets business, serving clients such as central banks, clearing houses, central securities depositories, custodians, and buy-side and sell-side institutions. The company also operates a life insurance division that delivers core policy administration software to life and health insurers, primarily across France and the Benelux region.

Advent stated that the acquisition will support additional investment into Vermeg's software products, artificial intelligence capabilities, and global client relationships amid shifting market infrastructure and regulatory requirements.