Positions Premier FX Technology Solutions Business for Accelerated Growth
PHILADELPHIA, LOS ANGELES and NEW YORK, June 25, 2019 – Lovell Minnick Partners (“LMP”), a private equity firm focused on investments in the global financial services industry, including related technology and business services companies, today announced it has completed a significant minority investment in oneZero Financial Systems (“oneZero” or “the Company”). oneZero is a leading provider of software and technology solutions to the rapidly growing foreign exchange (“FX”) trading industry. Financial terms of the private transaction were not disclosed.
Founded in 2009 and headquartered in Cambridge, MA, oneZero provides mission-critical FX and multi-asset class liquidity, distribution, business intelligence and risk management solutions to the retail brokerage and institutional marketplace, including hedge funds, prime brokers and global banks. Through its international presence across offices in the United Kingdom, Australia, Singapore and Cyprus, the Company offers hosted and SaaS-based solutions that enable clients to aggregate, route and manage their risk exposures through Liquidity Hub, access broader liquidity distribution through oneZero’s EcoSystem and gain business intelligence insights through Data Source.
“The convergence of the retail and institutional FX markets is rapidly increasing as global market participants seek sophisticated, highly-scalable trading solutions and reliable IT infrastructure with ultra-low latency, unparalleled pricing data and high transactional capacity,” said Steve Pierson, Managing Partner, Lovell Minnick Partners. “oneZero continues to develop next-generation wholesale technology and business intelligence solutions for market participants with unmatched speed, efficiency and risk management support.”
“We are excited to build upon our strong foundation as a leading technology solutions provider to both the retail and institutional brokerage FX markets as we expand our multi-asset class trading, technology and data solutions to serve more market participants around the world,” said Andrew Ralich, Co-Founder and Chief Executive Officer of oneZero. “We look forward to partnering with the deeply experienced team at Lovell Minnick and tapping their institutional capital markets expertise to accelerate oneZero’s growth.”
Lovell Minnick is joined in this investment by Phil Weisberg, institutional foreign exchange executive veteran and founder of Matzliach Capital who has served as Senior Advisor to oneZero since June 2018. Weisberg has deep financial markets, derivatives and corporate development experience, previously founding and serving as CEO of FXall, a business-to-business foreign exchange platform that previously traded on the New York Stock Exchange before being acquired by Thomson Reuters. “We believe there is an enormous greenfield opportunity for oneZero’s further expansion into the global institutional market as regulatory requirements across Europe and globally continue to evolve and create demand for versatile, robust and cost-efficient technology solutions,” he said.
oneZero serves a network of over 200 global retail and institutional broker-dealers, which conduct over $100 billion in average daily trading volume on over 6 million executed transactions per day.
Broadhaven Capital Partners served as exclusive financial advisor to oneZero, while Gunderson Dettmer served as legal advisor to the Company. Morgan Lewis served as counsel to Lovell Minnick.
About Lovell Minnick Partners
Lovell Minnick Partners is a private equity firm focused on investments in the global financial services industry, including related technology and business services companies. Lovell Minnick provides developing companies with equity capital to support private company recapitalizations, execute majority buyouts, and pursue growth initiatives. Since its inception in 1999, Lovell Minnick Partners has raised $3.2 billion in committed capital and has completed investments in over 50 platform companies. Targeted investment areas include asset management, wealth management, investment product distribution, specialty finance, insurance and brokerage services, financial and insurance technology, and related business services. Over its twenty-year history, Lovell Minnick has built a steady track record of investment returns through a consistent investment process that focuses on driving portfolio company growth, strategic activity, and operational improvement, without relying upon excessive financial leverage. For more information, please visit www.lmpartners.com.