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Sale of Rhyme Systems to 3i Infotech Ltd

October, 2006


Primary Capital has successfully exited its investment in Rhyme Systems, selling to 3i Infotech Limited, a global provider of IT solutions listed on the Bombay Stock Exchange, in a deal valued at £28m. The exit represents a money multiple of 3x Primary’s investment, equating to an IRR of 50%.

Rhyme Systems is a leading provider of asset management software solutions to first tier financial clients including Brewin Dolphin, Coutts RBS, Jupiter, M&G, Barclays and LCH Clearnet. Rhyme Systems’ products, RhymeSIGHT, Altimis, Quasar, Fiscal and Arrow provide key operational elements of the asset management process, including portfolio management, investment administration, clearing, settlement, order management and accounting.

Primary Capital originally invested £7.9m from the Primary Capital II Fund in November 2003 when it backed the management buy-out of the Misys Asset Management Systems division from Misys plc.  The business was subsequently renamed Rhyme Systems.


Contact Jackie Adams for more information

Tel: +44(0) 20 7920 4800


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