Private equity firm Siris has announced that it will exercise its option to retain ownership of three key businesses from the Equiniti Group (EQ): EQ Retirement Solutions (EQRS), EQ Customer Resolution (EQCR), and Lenvi.

This decision is part of Siris's previously announced sale of EQ to Bullish (NYSE: BLSH). Under the terms of the agreement, Siris had reserved the right to acquire these three businesses. The transaction is expected to close concurrently with the sale of EQ to Bullish in January 2027, subject to customary closing conditions and regulatory approvals.

All three businesses are critical infrastructure service providers for the UK financial services industry. EQRS is a leading provider of pension administration services and software in the UK. Its Compendia platform serves numerous large public and private sector pension plans, covering over 10 million members and handling annual payments exceeding £10 billion. EQCR assists regulated entities, such as financial institutions, in managing customer complaint handling by combining a specialized team with proprietary case management software. Lenvi provides loan servicing software, backup services, and fraud detection software to banks and non-bank lenders. Through its platform regulated by the UK Financial Conduct Authority, Lenvi manages over £100 billion in credit assets on behalf of more than 150 lenders.

Siris has owned Equiniti since 2021 and has made substantial investments in these three businesses during its holding period. Frank Baker, co-founder and managing partner of Siris, and Principal Grant Weisberg stated that retaining these three businesses will allow them to become an independent platform within Siris's portfolio. This platform will have a clear growth investment mandate and, with its own dedicated resources and independent positioning, will be better able to seize opportunities and create long-term value for all stakeholders.