Houlihan Lokey Advises 7RIDGE and Trading Technologies International

Houlihan Lokey is pleased to announce the completion of an $835 million single-asset continuation vehicle managed by 7RIDGE Ltd. (7RIDGE) to support the growth of Trading Technologies International Inc. (Trading Technologies or TT). Houlihan Lokey also simultaneously placed a $450 million senior secured credit facility to support the previously announced co-control recapitalisation by Thoma Bravo, refinance existing indebtedness, provide dry powder to fund future add-on acquisitions, and pay transaction-related fees and expenses. The transactions closed on 4 November 2025.

Founded in 2019 by Carsten Kengeter and Veronica Augustsson, 7RIDGE invests in growth or buyout-stage tech-enabled businesses that operate on a global scale. 7RIDGE’s investment thesis is predicated on driving value through the digital disruption of global financial services. 7RIDGE employs a differentiated operational approach and has built a specialist team with more than 170 years of combined experience, able to implement technology as a key value-creation lever and benefit from a deep pool of industry participant limited partners.

7RIDGE invested in Trading Technologies in December 2021 and, alongside management, has successfully leveraged its team’s unique capital markets experience and differentiated operational focus to transform the business into a market-leading, SaaS-native, global multi-tenant trading platform. 7RIDGE achieved this both via organic growth and accretive acquisitions, which expanded TT’s product suite and asset-class coverage. 7RIDGE identified and unlocked these acquisition opportunities owing to the team’s deep understanding of industry participants’ needs and shared strategic vision with management.

7RIDGE ran the continuation vehicle process to provide a full liquidity option for investors in 7RIDGE Investments 3, LP, at the same valuation as Thoma Bravo’s investment and enabled 7RIDGE to extend its hold period for its highly successful investment in TT. It also secured additional growth capital to accelerate TT’s acquisition strategy and help further achieve its next phase of evolution.

The continuation vehicle was anchored by Pantheon and Partners Group, together acting as co-leads, and attracted support from a further syndicate of high-quality, global institutional investors, including Barings and Schroders. The continuation vehicle transaction closes in parallel with 7RIDGE and Trading Technologies' partnership with Thoma Bravo.

Ms. Augustsson, Partner at 7RIDGE, commented: “This transaction represents an important milestone for both 7RIDGE and Trading Technologies. TT has grown substantially since 7RIDGE’s initial investment, and this transaction reinforces our conviction in TT’s differentiated solution set and provides additional resources and capital for sustained growth. We are pleased to partner with such a high-quality group of investors and look forward to their continued support of this CV and on future opportunities across the 7RIDGE platform.”

Kevin Dunwoodie, Partner at Pantheon, said, “We are excited to partner with 7RIDGE for the next stage of Trading Technologies’ journey. The company’s product leadership position, strong competitive moat and ability to expand through strategic M&A created conviction for our team, and we believe 7RIDGE’s deep operational expertise, alongside the new partnership with Thoma Bravo, positions the company well in this next phase of growth.”

Christoph Baumann, Senior Investment Leader at Partners Group, commented, “In underwriting continuation vehicles, we seek strong partners and high-performing, hidden champions underpinned by robust fundamentals and clear potential for sustainable long-term value creation. Trading Technologies exemplifies these attributes, and we are delighted to partner with 7RIDGE and Thoma Bravo on this landmark transaction to support the company’s next transformative phase of growth.”

Houlihan Lokey acted as the exclusive financial advisor to 7RIDGE on the continuation vehicle and as exclusive placement agent to Trading Technologies, assisting the company in arranging, structuring, and negotiating the financing.

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