Chi-X
Chi-X Asia is a leading global provider of alternative trading venues, a fast-growing trading exchange operator and a technology provider with current operations in Australia, Japan and Hong Kong.
Investment Thesis:
- There were limited challengers in-market for Australia and Japan
- Targeted large, underpenetrated markets resulting in growth opportunities
- Efficient, globally tested trading technology platform
- Undermanaged asset under previous ownership; turnaround effort required; JCF had experience and an established network in the Asia-Pacific region
- Assets have strategic value to exchange operators with global ambitions
Value Add:
- Helped Chi-X compete more effectively with the incumbent exchanges
- Recruited well-respected industry veterans and instituted strong governance with JCF executives and independent outside directors
- Replatformed Chi-X technology and operations centers to improve efficiency and profitability
- Leveraged JCF experience and relationships to help raise market standards and product innovation
Key Details
Location:
Japan / Australia / Hong Kong
Fund:
JCF III
Subsector:
Capital Markets, Payments & Software
Investment Date:
February 2016
Realization:
June 2021
