GTCR, one of the leading private equity firms in the world, announced the recent entry into a partnership with Douglas G. Bergeron to establish Opus Global Holdings LLC. The new firm would call Palo Alto, CA its headquarters.
This is the second partnership between the two parties and this time the focus would be the pursuit of companies operating in the financial technology industry. For this new venture, GTCR would be investing USD450 million in equity capital to support the Leaders Strategy program. This is a program wherein companies would partner with management leaders to grow market leading firms from specific industries.
In this venture, Mr. Bergeron would be the company's CEO and would invest USD50 million of his own money. His experience in the financial technology industry, culminating as CEO of global payments leader VeriFone between 2001 and 2013.
According to Mr. Bergeron, "The existing financial technology and payments ecosystems are rapidly evolving, but remain highly fragmented with limited interoperability and little opportunity to leverage enterprise-wide data. We see an opportunity to successfully consolidate and globalize best in breed products for worldwide deployment while leveraging data across applications. We intend to assemble a leading, global financial technology company and to develop a worldwide distribution network of partners, distributors and employees."
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