Core Insights - Aquilance has raised $16 million in funding from Ten Coves Capital, marking its first institutional capital raise in 39 years [1] - The company rebranded from My Accountant in 2021 and underwent a recapitalization with private individual investors [2] - Aquilance has been expanding its executive team with experienced professionals from wealthtech and banking sectors [3][4][5] Company Developments - John Carey was appointed as CEO in June 2024, succeeding Kenneth Eyler [3] - Kevin Reed joined as the first chief revenue officer in October 2024, focusing on branding and marketing for financial advisors [4] - Craig Setera was appointed as the first chief technology officer in 2024, enhancing the company's tech platform to serve clients with $10 million or more in assets [5] Client Base and Services - Aquilance primarily serves ultra-high-net-worth individuals, with a significant portion of business referred by financial advisors [6] - The company provides services such as bookkeeping, bill pay, investment, and entity accounting through financial advisors [6] - Aquilance aims to offer a high-net-worth money movement service similar to mobile banking apps for advisors and their clients [7]

Core Insights - The Carlyle Group Inc. has announced an agreement to acquire intelliflo from Invesco Ltd. to enhance its exposure to financial software [1] Group 1: Acquisition Details - intelliflo, founded in 2004 and based in London, supports over 30,000 professionals across 2,600 advisory firms, managing approximately £450 billion in client assets [2] - The acquisition includes intelliflo's cloud-based practice management software in the UK and its US subsidiaries, RedBlack and intelliflo Portfolio, which serve Registered Investment Advisors (RIAs) [3][9] - The total purchase price is valued at up to $200 million, with $135 million payable at closing expected in the fourth quarter of 2025, and up to an additional $65 million in potential future earn-outs [4][9] Group 2: Strategic Implications - The acquisition is expected to accelerate Carlyle's growth in wealthtech across the UK, the United States, and Australia [4] - intelliflo's US subsidiaries will be carved out into a standalone entity named RedBlack, focusing on supporting RIAs, while intelliflo will concentrate on the UK and Australian markets [5][9] - Carlyle aims to scale both platforms independently while driving innovation and client-centric growth by combining intelliflo's UK leadership with RedBlack's US specialization [7] Group 3: Broader Strategy - The acquisition is backed by Carlyle Europe Technology Partners V, a €3 billion fund focused on technology investments across Europe, with a strong track record in financial software and vertically focused SaaS [6] - Recent investments by CETP include SER Group, CSS, SurePay, and Calastone, indicating a commitment to expanding its portfolio in the financial software sector [6] Group 4: Market Performance - Over the past year, shares of Carlyle Group have surged 62.3%, significantly outperforming the industry's growth of 17.9% [8]