KCG Holdings, Inc. Enters Into $275 Million Strategic Transaction With General Atlantic, LLCNovember 17, 2016
S&C advised KCG Holdings, Inc. in its entry into a strategic transaction with General Atlantic, LLC, a 22 percent shareholder of KCG. Under the terms of the transaction, KCG will exchange approximately 8.9 million shares of Bats Global Markets, Inc. owned by KCG for all of General Atlantic's 18.7 million shares and 8.1 million warrants of KCG. The transaction is valued at approximately $275 million.
KCG is an independent securities firm that provides market making and agency execution services and venues to investors and also engages in principal trading through exchange-based market making. General Atlantic invested in a predecessor to KCG, GETCO Holding Company, LLC, in 2007.
The S&C team representing KCG was led by Jared Fishman and Regina Sorin.