Exclusive: Software company Enfusion draws takeover interest from private equity, Irenic Capital

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Software company Enfusion Inc is attracting takeover interest from private equity firms and strategic buyers, several people familiar with the matter said.

A trader looks at screens with graphs at the Diamond trading academy in Nice, France, September 30, 2016. REUTERS/Eric Gaillard/File Photois attracting takeover interest from private equity firms and strategic buyers, several people familiar with the matter said.

Enfusion, which provides cloud-based portfolio management and risk systems to investment funds, is valued at roughly $1 billion. Since going public in 2021, Enfusion's shares have lost more than half of their value. The stock climbed 19.93% on Monday to close at $11.04. Most recently, Irenic has held multiple meetings with new CEO Oleg Movchan about a proposed transaction at a premium to the share price, two sources said.There is no certainty that a deal will occur.

Irenic, which was co-founded by Elliott Management veteran Adam Katz and former Indaba Capital partner Andy Dodge, recently worked with private equity giant Apollo Global Management to buy industrial parts manufacturer Arconic.

 

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