TA Associates completed a $50 million investment in Quantitative Analytics, said Todd R. Crockett, a principal with TA Associates who also joined Quantitative Analytics' board of directors. Proceeds from the deal will be used for shareholder liquidity and for product development and future enhancements to Quantitative Analytics, which develops financial software and data applications for investment managers, hedge funds, investment bankers and others.
The investment comprises a majority stake in the company, Mr. Crockett said, but he declined to specify a percentage. Bill Aronin, co-founder and president of Quantitative Analytics, also declined to specify a percentage, saying only that shareholders of the privately held company retain a "substantial" stake in the company.
TA Associates approached Quantitative Analytics and there was not an open search for investors, Mr. Aronin said. Goldman Sachs was Quantitative Analytics' investment consultant for the transaction.
