NEW YORK — Global investment firm KKR has agreed to purchase OSTTRA, a leading provider of post-trade processing solutions, from co-owners S&P Global and CME Group for $3.1 billion in an all-cash transaction set to close in the second half of 2025, pending regulatory approvals.

The KKR OSTTRA acquisition marks a major play in the financial infrastructure space. Joint sellers S&P Global, advised by Davis Polk & Wardwell LLP, and CME Group, represented by Skadden Arps Slate Meagher & Flom LLP, will split the sale proceeds equally as part of their 50/50 ownership agreement.

London-headquartered OSTTRA was formed in 2021 through the merger of select post-trade businesses from CME and S&P. The firm provides mission-critical trade processing and workflow solutions across multiple asset classes including FX, equities, credit, and interest rates, and supports operations for financial institutions globally.

KKR Plans to Scale and Expand

KKR, advised by Simpson Thacher & Bartlett LLP, said it will fund the acquisition through its North American private equity strategy. The firm plans to bolster OSTTRA’s technology roadmap, expand its international reach, and launch an employee equity ownership program for OSTTRA’s nearly 1,500 staff members.

“OSTTRA’s mission-critical solutions, deep customer relationships, and strong market position make it an ideal platform for long-term growth,” said KKR partner Webster Chua. “We’re excited to collaborate with the OSTTRA team and apply our experience across tech-enabled and financial services.”

OSTTRA co-CEOs Guy Rowcliffe and John Stewart echoed that sentiment in a joint statement, saying KKR’s backing will help the company “further accelerate strategic initiatives, drive innovation, and expand our global footprint.”

Portfolio Strategy for Sellers

Terry Duffy, chair and CEO of CME Group, said KKR is well-positioned to “scale this business and extend the important efficiencies that OSTTRA delivers to clients.” Meanwhile, John Barneson, chair of OSTTRA’s board and head of enterprise solutions at S&P Global Market Intelligence, framed the deal as part of a broader “portfolio optimization” strategy to support S&P’s growth trajectory.

Financial advisory roles for the deal include Barclays for S&P Global, Citi for CME Group, and both Goldman Sachs & Co. and BofA Securities for KKR.

Deal Teams and Legal Advisors

• Skadden Arps advised CME Group, with a team led by David Clark, June Dipchand, Kenneth Schwartz, Fred Depoortere, Sarah Beth Rizzo, Jisun Choi, Matea Bozja, and Stuart Levi.

• Davis Polk represented S&P Global, with partners Brian Wolfe, Evan Rosen, Pritesh P. Shah, Veronica M. Wissel, and Michael Mollerus.

• Deal team details for Simpson Thacher, KKR’s counsel, were not immediately available.