Apse Capital Continuation Fund (Led by J.P. Morgan) Acquires TerraQuest, Kallidus and Ultima Business Solutions

GTCR and Stone Point Capital Acquire Ultimus Fund Solutions

April 23, 2025

Financial Services

GTCR and Stone Point Capital jointly acquired Ultimus Fund Solutions in a transaction that recapitalizes the company, with GTCR reinvesting and providing liquidity to GTCR Fund XII. Ultimus, a Cincinnati-based fund administrator serving over 450 clients and administering more than $600 billion in assets, will be jointly controlled by GTCR and Stone Point and led by existing management.

Capgemini Acquires Quorsus to Reinforce Capital Markets Services

October 10, 2022

Financial Services

Capgemini has acquired Quorsus, a London-based consultancy specializing in post-trade capital markets, regulatory reporting, and market infrastructure. The acquisition strengthens Capgemini's capabilities in capital markets services and regulatory-driven transformation for financial institutions.

Catalyst Clinical Research Acquires Aptus Clinical

May 4, 2022

Healthcare Services

Catalyst Clinical Research, a portfolio company of NovaQuest Capital Management, has acquired U.K.-based Aptus Clinical to accelerate Catalyst's European expansion and broaden its oncology and early-phase clinical services. The deal creates a multi-region CRO operating across North America and Europe, increases Catalyst's patient reach by nearly 600 and lifts combined headcount to more than 800.

Primus Capital Makes Growth Investment in Cayuse; Quad Partners Reinvests

August 27, 2020

Cloud & SaaS

Primus Capital led a major growth investment in Cayuse, the Portland-based market leader in cloud-native research administration software. Quad Partners and its affiliates reinvested alongside Primus to support Cayuse’s product innovation, platform expansion and continued strategic acquisitions; Macquarie Capital served as Cayuse’s financial advisor.

Funds Advised by Apax Partners Acquire Lexitas from Trinity Hunt Partners

November 5, 2019

Legal Services

Funds advised by Apax Partners (the Apax Funds) acquired Lexitas, a Houston-headquartered, technology-enabled litigation support services provider, from Trinity Hunt Partners and Lexitas management/other investors. The investment is intended to accelerate Lexitas's growth through geographic and salesforce expansion, technology differentiation, and strategic M&A.

Apse Capital Acquires Kallidus from FPE Capital

March 14, 2019

Cloud & SaaS

Apse Capital has acquired Kallidus Holdings Limited, a UK-based human capital management and e-learning SaaS provider, from FPE Capital. The sale generates a 3.0x MoC and 31% IRR for FPE funds (blended 2.7x MoC and 34% IRR including bolt-on funding) and positions Kallidus for further growth under Apse's ownership.