REDI, which offers modern broker-neutral, cross-asset technologies to capital markets, will be able to boost its businesses leveraging an array of acquirers’ capabilities, including an expanded broker network, broad cross-asset capabilities, global coverage and customer service.
Goldman Sachs principal strategic investments global co-head Darren Cohen said the disposal of majority stake will allow the REDI business to expand its reach as a separate, multi-dealer platform to more clients, geographies and asset classes.
With its new headquarters located in New York, REDI will also run five regional offices in Boston, San Francisco, Chicago, London and Hong Kong.
Goldman Sachs electronic trading business development group co-manager Rishi Nangalia will become chief executive officer of the new company.
Representatives from each of the investor companies will join the REDI board, based on the terms of the transaction.
REDI manages global technology platform the REDIPlus Execution Management System, which has been provided across the Americas, EMEA and Asia-Pacific through its wholly owned subsidiary REDI Global Technologies.
