Capitolis to Acquire 20 Gates' Platform
A press release titled, "Capitolis to Acquire 20 Gates Management’s U.S. Secured Financing Platform to Expand its Capital Marketplace," tells us, "Capitolis, the financial technology company, ... announced it has signed an agreement to acquire 20 Gates Management's U.S. Secured Financing Platform. The acquisition, which is expected to close in the coming weeks, enables Capitolis to add U.S. secured financing to its Capital Marketplace, broaden its client base, and add veteran industry talent to its growing team. 20 Gates Management's U.S. Secured Financing Platform has operated for more than 15 years and is supported by a broad base of prominent investors and banks. The acquisition brings an established roster of major financial institutions into the Capitolis Capital Marketplace network and adds seasoned team members from 20 Gates Management." Gil Mandelzis, CEO & Founder of Capitolis, comments, "We have known 20 Gates Management for many years, have partnered with them, and are excited to bring their U.S. secured financing capabilities and veteran team members on board. Our Capital Marketplace already offers secured financing solutions in Europe, and this acquisition extends those offerings to the U.S. market, where they are critical to our clients. In addition to that, we're gaining exceptional talent and established client relationships that will accelerate our growth and enhance our ability to serve the market with innovative solutions." 20 Gates Management's Hans Bald adds, "We've worked with and have known Capitolis for a long time and have great respect for their expertise and market leadership. We're excited to see them expand into U.S. secured financing by bringing our offering into their marketplace. 20 Gates remains focused on its core Asset Management business, investing in private and revolving ABS for its clients."
