ThoughtFocus, a digital services firm, has raised growth capital from global private equity firm HIG Capital, allowing Blackstone to exit the company.
In 2013, Blackstone made a minority investment in the US-based technology firm. The financial terms of the transaction were not disclosed by the companies.
HIG Capital, based in Miami, Florida, manages $52 billion in assets. It currently has over 100 companies in its portfolio.
ThoughtFocus, headquartered in Milwaukee, Wisconsin, was founded in 2004 and provides information technology services to companies and organisations in financial services, including capital markets, payments, lending, manufacturing, higher education, and government.
It employs over 2,100 people in five countries: the United States, India, the Philippines, the Dominican Republic, and Canada.
The company has offices in Bengaluru, Mysuru, and Hyderabad in India. Approximately 1,500 of the 2,100 employees are based in India.
ThoughtFocus’ exclusive financial adviser on the transaction was DA Davidson, and Reed Smith LLP provided legal counsel.
Blackstone manages $951 billion in assets, including private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets, and secondary funds.
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