Apollo in talks to buy stake in fintech PE firm Motive Partners

Apollo Global Management Inc is in talks with Motive Partners to acquire a minority stake in the smaller private equity firm focused on financial technology, a regulatory filing showed on Thursday.

Apollo Global Management Inc is in talks with Motive Partners to acquire a minority stake in the smaller private equity firm focused on financial technology, a regulatory filing showed on Thursday. Apollo also intends to form a strategic partnership with Motive, the filing showed. However, it gave no assurance that a deal will be reached.

Apollo plans to acquire up to 24.9% of Motive, valuing the smaller PE firm at around $1 billion, Wall Street Journal reported earlier in the day, citing people familiar with the matter. https://on.wsj.com/3h7aFYA Apollo and Motive did not immediately respond to a Reuters request for comment.

Motive invests in software makers and information and investment services providers that work with companies in the sub-sectors of banking and payments, capital markets, data and analytics, insurance and investment management, its website showed. It looks for growth equity investment and buyout opportunities in North America and Europe.

Motive, along with private equity firm Clearlake Capital Group, agreed to acquire an 80% stake in InvestCloud, a wealth and investment management software platform, earlier this year.