Asian private equity fund buys currency website Oanda

World_currenciesA subsidiary of the Asia Fund IV from CVC Capital Partners has agreed to buy the outstanding equity of currency conversion website Oanda. The private equity firm said it hoped to assist Oanda in expanding its business in Asia through acquisitions. “This is an exciting opportunity to invest in a leading global player with a consistent track record of growth and a highly cash generative business, in a sector known well to CVC,” said Siddharth Patel, senior managing director at CVC Capital Partners. Vatsa Narasimha will stay on in his role as chief executive of Oanda, which offers an online retail trading platform and analytics services as well as its popular website, which offers free currency conversions. Founded in London in 1981 as a subsidiary of Citigroup, CVC Capital Partners manages about $70 billion of assets. ©2018 funds global asia

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