Refinitiv (fka Thomson Reuters F&R)

exited

Financial Technology — Blackstone

Deal Terms

Entry Year2018

Entry EV$20B

Entry Multiple12x

Leverage5.5x

Debt Amount$11B

Outcome

Exit Year2021

Risk Metrics

LTV (est.)55%

Debt / EV0.55x

Notes

Blackstone acquired 55% of Thomson Reuters' financial data unit for $20B (2018). $11B debt. London Stock Exchange Group acquired for $27B (2021). Blackstone made $7B+ profit in just 3 years. One of the fastest and most profitable mega-deal exits in PE history. Financial data is a toll booth business — perfect for PE.

Sponsor

Blackstone$1270B AUM