KKR Acquiring OSTTRA From S&P Global, CME in $3.1 Billion Deal

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KKR Acquiring OSTTRA From S&P Global, CME in $3.1 Billion Deal

, MT Newswires - 11:56 AM ET 4/14/2025 default

11:56 AM EDT, 04/14/2025 (MT Newswires) -- KKR (KKR) is buying OSTTRA, a joint venture between S&P Global ( SPGI ) and CME Group ( CME ) , in a deal worth $3.1 billion.

The $3.1 billion enterprise valuation is subject to adjustments, the companies said Monday, with proceeds to be split evenly between S&P Global ( SPGI ) and CME. The transaction, which requires regulatory approvals, is anticipated to complete in the second half of this year.

London-based OSTTRA provides over-the-counter market participants with post-trade services across interest rates, foreign exchange, credit and equity asset classes. It processes more than 80 million trades monthly.

"We have long admired OSTTRA for its mission-critical solutions, deep customer relationships, and strong market position, which we believe provide a great foundation for future growth," KKR partner Webster Chua said. "We look forward to working with the OSTTRA team and leveraging our experience in the tech-enabled and financial services sectors to help the company further innovate and drive value for its customers."

Investment firm KKR will boost OSTTRA's investments in technology and innovation across its post-trade solutions platform.

"With KKR's support, we will further accelerate our strategic initiatives to enhance our market-leading post-trade solutions, drive innovation, and expand our global footprint," said OSTTRA co-Chief Executives Guy Rowcliffe and John Stewart, who will continue in their current roles.

For S&P Global ( SPGI ), the transaction is in line with its "active portfolio optimization," said John Barneson, head of enterprise solutions at S&P Global Market Intelligence and board chair at OSTTRA.

"As the post-trade marketplace continues to evolve, we are confident that KKR will further scale this business and extend the important efficiencies that OSTTRA delivers to clients," CME CEO Terry Duffy said.

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