- January 30, 2018
- Posted by: David Tabaka
- Category: AML/KYC, Compliance, Market Data, Media, News, Risk
Thomson Reuters Corp. is hoping to jump-start growth in its core financial data business, ceding control of the unit to private equity giant Blackstone Group LP in a $17-billion (U.S.) deal to form a new joint venture.
Blackstone leads a consortium that includes the Canada Pension Plan Investment Board (CPPIB) – a long-time investor in Blackstone funds – and Singaporean sovereign wealth fund GIC. The group will take a 55-per-cent stake in a new corporation that spins out Thomson Reuters’s financial and risk division as a separate business. The unit derives much of its revenue selling the news and data to the global financial industry.