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FT Partners' $250,000,000 Landmark Transaction Represents the Largest Financial Services Technology VC Financing Ever

Overview of Transaction
  • On February 23, 2005 Liquidnet announced it had raised $250,000,000 in financing from Technology Crossover Ventures and Summit Partners
  • Liquidnet is one of the fastest growing alternative trading systems in history
  • After less than four years, Liquidnet is ranked as one of the top 14 largest NYSE institutional brokers and the 15th largest NASDAQ broker (Plexus Group, BrokerEdge Monitor 4Q 2003 - 3Q 2004)
  • Liquidnet was named the 5th fastest growing private company in the U.S. by Inc. Magazine in October 2004
  • In November 2004, Institutional Investor ranked Liquidnet as the number two favorite electronic venue based on a survey of 350 head traders at the world's leading money management firms
  • Institutional Investor ranked Liquidnet #9 and #10 for NASDAQ and NYSE-listed securities, respectively, in terms of overall quality of execution
Significance of Transaction
  • Transaction represents the largest ever U.S.-based minority private equity investment in technology/financial services sector (Thomson Venture Economics/NVCA)
  • To date, largest single investment by Technology Crossover Ventures and Summit Partners
  • Highly sought after transaction; numerous top-tier private equity investors submitted bids
FT Partners' Role
  • FT Partners acted as sole strategic and financial advisor to Liquidnet and its Board of Directors
  • Assignment was highly sought after by bulge bracket investment banks
  • FT Partners' knowledge of the industry in combination with its knowledge of the potential investor universe helped the Company reach a highly successful transaction