CVC Capital To Buy ConvergEx

CVC Capitalis acquiring technology companyConvergEx. The private equity and investment advisory firm will close the all cash transaction by the end of 2011. Financial terms of the deal have not been disclosed. As part of the deal, current ConvergEx management team, led by Chairman and CEOJoseph Velli, will continue to manage the company.

Goldman Sachs,JPMorgan Chase,CitigroupandBarclays Capitalare advising ConvergEx, while CVC is being advised byBank of America Merrill Lynch,DeutscheBank SecuritiesandMorgan Stanley. CVC got fully committed funding from Bank of America Merrill Lynch, Barclays Capital, Deutsche Bank Securities, affiliates of Morgan Stanley andCitigroup Global Markets.

Click here for the release fromCVC Capital.