Key Takeaways
- • Thoma Bravo partners with 7RIDGE on Trading Technologies investment, marking a co-investment structure where the software-focused mega-fund joins 7RIDGE's existing ownership stake acquired in December 2021, with closure expected in Q4 2025 following regulatory approval.
- • Deal structure protects confidentiality: transaction terms remain undisclosed, consistent with private equity co-investment practice, though Thoma Bravo manages approximately $184 billion in assets under management.
- • Proskauer mobilized cross-border, multi-disciplinary legal team spanning M&A, private investment funds, TMT, data privacy, tax, antitrust, and regulatory expertise across London and New York offices, reflecting complexity of regulated fintech infrastructure transactions.
- • Trading Technologies operates as a global capital markets technology platform, positioning the investment at the intersection of financial services infrastructure and software, where Proskauer demonstrates specialized advisory capability in regulated sectors.
- • 7RIDGE retains stake in portfolio company, signaling continued growth-phase investment rather than full exit, with Thoma Bravo providing additional growth capital and operational resources for market expansion.
Summary
Proskauer Rose LLP has completed legal advisory work on a partnership between Thoma Bravo, one of the largest software-focused private equity investors globally, and 7RIDGE on an investment in Trading Technologies International, Inc. (TT), a capital markets technology platform services provider. The transaction represents a co-investment structure where Thoma Bravo joins 7RIDGE, which originally acquired Trading Technologies in December 2021. The deal is expected to close in Q4 2025 following regulatory clearance, though specific financial terms were not disclosed.
The transaction reflects a strategic capital infusion for the next growth phase of Trading Technologies, which operates within the highly regulated financial services and market infrastructure sectors. Thoma Bravo's involvement signals confidence in the platform's market position and expansion potential, while 7RIDGE's continued participation demonstrates a longer-term commitment to the asset rather than a portfolio exit. The two investors' partnership structure aligns with contemporary private equity practice, where established sponsors collaborate with specialized growth equity firms to accelerate technology company scaling.
Proskauer's advisory mandate was executed by a substantial cross-border team spanning 20+ professionals across London and New York, including partners Andrew Wingfield, Michael Callahan, and Rob Day (M&A), along with specialists in private investment funds, technology and media (TMT), data privacy, tax, antitrust, and export controls and economic compliance (EBEC). Additional oversight came from regulatory counsel in Washington, D.C., underscoring the regulatory complexity inherent to financial services technology transactions.
The engagement demonstrates Proskauer's positioning as a lead advisor for private equity transactions at the convergence of fintech and digital infrastructure, particularly where cross-border execution and regulated sector expertise are required. The firm cited its integrated M&A and technology capabilities as core differentiators in advising major private equity sponsors on structurally complex, multi-jurisdictional software and technology investments.
The transaction reflects a strategic capital infusion for the next growth phase of Trading Technologies, which operates within the highly regulated financial services and market infrastructure sectors. Thoma Bravo's involvement signals confidence in the platform's market position and expansion potential, while 7RIDGE's continued participation demonstrates a longer-term commitment to the asset rather than a portfolio exit. The two investors' partnership structure aligns with contemporary private equity practice, where established sponsors collaborate with specialized growth equity firms to accelerate technology company scaling.
Proskauer's advisory mandate was executed by a substantial cross-border team spanning 20+ professionals across London and New York, including partners Andrew Wingfield, Michael Callahan, and Rob Day (M&A), along with specialists in private investment funds, technology and media (TMT), data privacy, tax, antitrust, and export controls and economic compliance (EBEC). Additional oversight came from regulatory counsel in Washington, D.C., underscoring the regulatory complexity inherent to financial services technology transactions.
The engagement demonstrates Proskauer's positioning as a lead advisor for private equity transactions at the convergence of fintech and digital infrastructure, particularly where cross-border execution and regulated sector expertise are required. The firm cited its integrated M&A and technology capabilities as core differentiators in advising major private equity sponsors on structurally complex, multi-jurisdictional software and technology investments.
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