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Highlights
Carlyle to acquire intelliflo from Invesco for up to $200 million, with $135 million payable at closing and up to $65 million in earn-outs.
The deal includes intelliflo’s US subsidiaries, which will be separated into a new standalone company under the RedBlack brand.
intelliflo’s platform supports over 30,000 professionals managing £450 billion in assets, with expansion planned in the UK and Australia.
Global investment firm Carlyle (NASDAQ:CG) and Invesco (NYSE:IVZ), a leading global asset management company, have announced an agreement under which Carlyle will acquire intelliflo, a UK-based provider of cloud-based practice management software for independent financial advisors (IFAs). The transaction also includes intelliflo’s US subsidiaries, RedBlack and intelliflo Portfolio, which deliver portfolio management and rebalancing solutions for US-based Registered Investment Advisors (RIAs).
Transaction Details
The acquisition values intelliflo at up to $200 million, comprising $135 million payable at closing and up to an additional $65 million linked to potential future earn-outs. The transaction is expected to close in the fourth quarter of 2025, subject to customary closing conditions.
Carlyle will fund the acquisition through Carlyle Europe Technology Partners V, a €3 billion fund focused on investments in European technology companies. The CETP team brings extensive experience in financial software, SaaS, and wealthtech, with a portfolio that includes SER Group, CSS, SurePay, and Calastone.
Business Overview
Founded in 2004 and headquartered in London, intelliflo provides a cloud-native, multi-tenanted SaaS platform to more than 30,000 professionals across approximately 2,600 advisory firms. The software supports the management of around £450 billion in client assets, delivering solutions for CRM, financial planning, client onboarding, compliance, and reporting. Its platform integrates with over 120 third-party applications, allowing advisors to streamline operations and scale their practices.
The acquisition is expected to boost intelliflo’s established position in the UK market and accelerate its expansion into Australia.
As part of the deal, intelliflo’s US subsidiaries will be separated into a new standalone business under the RedBlack brand, with a dedicated management team focused on serving RIAs and financial advisors in the United States. intelliflo will continue to operate as a UK- and Australia-focused software provider, while Carlyle will support both businesses in executing their growth initiatives.
Advisors and Due Diligence
Evercore acted as financial advisor to Invesco, while HSF Kramer served as legal advisor. Carlyle was advised by Gibson Dunn on legal matters. Altman Solon, PWC, Oliver Wyman, and Ringstone provided due diligence services during the acquisition process.
About Carlyle
Carlyle is a global investment firm managing $465 billion in assets as of 30 June 2025. The company operates across three segments: Global Private Equity, Global Credit, and Carlyle AlpInvest. With more than 2,300 employees in 27 offices across four continents, Carlyle invests in businesses worldwide with the aim of driving long-term value creation.
