Tenzing picks up news and intelligence provider MNI

• MNI provides news and intelligence for the global foreign exchange and fixed income markets
• This is the fifth investment of Tenzing’s £400 million Fund II, which began investing in 2021
• MNI has a strong track record of delivering double-digit organic growth

London-based private equity firm Tenzing announced on 2 August that is has acquired MNI, a London-headquartered financial news organisation that provides news and intelligence for the global foreign exchange and fixed income markets. MNI’s subscription-based platform provides traders and financial professionals with real-time data and insights. Tenzing’s £400 million ($484 million; €474 million) Fund II, which has been investing since 2021, made the purchase.

Tenzing looks to invest in high-growth UK and Northern European SMEs valued between £10 million and £200 million. Tenzing’s investment will look to create value by focusing on supporting MNI’s growth through continued investment in technology, new product development and sales. It also sees potential to widen MNI’s addressable market by opening adjacent markets via acquisition. MNI has a strong track record of delivering double-digit organic growth.

“We’ve been so impressed by the management team at MNI,” said Guy Gillon, co-founder and joint managing partner of Tenzing. “They’ve already built a solid client base who love the offering, demonstrated by an impressive NPS score of +67. The exciting part is that there’s a significant greenfield opportunity, plus several other potential routes for us to accelerate growth further, including new products and M&A.”

“We are thrilled to be partnering with Tenzing on the next stage of our amazing journey,” said Terry Alexander, CEO of MNI. “They have a first-class track record of turning high-growth businesses into global powerhouses, and we can’t wait to fully leverage the expertise and experience of the whole Tenzing team to drive MNI to exciting new heights.”