Warburg Pincus has exited credit market data, intelligence and analytics provider Reorg to fellow private equity major Permira.
The deal comes four years after Warburg bought into the company, which uses proprietary tech to collect data in real-time and apply machine learning and natural language processing to filter the information.
It also provides breaking news updates on sub-investment grade credit.
A statement from Permira’s Daniel Brenhouse and Andrew Young said, “[Reorg founder and CEO Kent Collier] and his team have built an impressive data-driven platform that provides deep insight and powerful analysis of the complex and often opaque credit markets.
“As we know first-hand through our experience in the sector with Permira Credit, the value Reorg offers financial and legal professionals is incomparable – especially in today’s dynamic market – and there are vast opportunities for further growth.
“We look forward to leveraging our international network and expertise working with leading tech, tech-enabled and subscription-based businesses to help scale the platform.”
The deal, is expected to close in the third quarter of 2022.
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