KKR to Acquire OSTTRA for $3.1 Billion in Strategic Post-Trade Services Deal

New York/London – Private equity powerhouse KKR & Co. has entered into a definitive agreement to acquire OSTTRA, the London-based post-trade services firm jointly owned by S&P Global and CME Group, in a $3.1 billion transaction, the companies announced Monday.

This acquisition marks KKR’s second major deal in less than a week, signaling confidence in strategic investing despite the broader slowdown in global dealmaking, triggered in part by rising economic volatility and shifting U.S. trade policies under President Donald Trump.

The sale proceeds will be split evenly between S&P Global, the financial data and analytics firm, and CME Group, a leading derivatives exchange operator. The deal is expected to close in the second half of 2025, subject to regulatory approvals and customary closing conditions.

Expanding Global Reach in Post-Trade Infrastructure

Founded as a joint venture in 2021, OSTTRA provides post-trade services for over-the-counter (OTC) markets, supporting critical infrastructure across asset classes such as interest rates, foreign exchange, equity, and credit.

The acquisition will bolster KKR’s exposure to a growing segment of the financial services ecosystem, one that plays a vital role in reducing risk and increasing transparency in global markets.

“With KKR's support, we will further accelerate our strategic initiatives to enhance our market-leading post-trade solutions, drive innovation, and expand our global footprint,” OSTTRA co-CEOs Guy Rowcliffe and John Stewart said in a joint statement. The current management team will remain in place following the acquisition.

KKR Maintains Deal Momentum Despite Market Uncertainty

This announcement follows KKR’s recent agreement to acquire Karo Healthcare, the maker of E45 skincare products, from Swedish investment firm EQT, underscoring the firm’s continued pursuit of targeted acquisitions in defensive and growth-focused sectors.

While corporate dealmaking has slowed in the face of heightened economic headwinds—including tariff escalations, inflationary pressures, and rising borrowing costs—private equity firms like KKR have remained active, capitalizing on opportunities in resilient verticals such as infrastructure, healthcare, and financial technology.

The OSTTRA deal reflects a broader trend among financial sponsors seeking mission-critical service providers with scalable technology and recurring revenue models—particularly in areas that support market resilience and regulatory compliance.