NEW YORK, Sept. 18, 2008 (GLOBE NEWSWIRE) -- Quadriserv, Inc. today announced the addition of Susquehanna Private Equity Investments, LLLP, an affiliate of Susquehanna International Group, LLP, and Round Table Partners to its investor ranks. These investing partners join existing institutional investors Bessemer Venture Partners, Merrill Lynch and Renaissance Technologies, LLC to fund the ongoing development and commercialization of Quadriserv's innovative securities lending platform.
Quadriserv Co-Founder and Managing Director Gregory DePetris commented, "For some time, securities lending has been evolving toward a more transparent, automated, and efficient marketplace. Recent events have further galvanized the resolve of regulators and market participants alike to reform the industry, and Quadriserv is accelerating the rollout of innovative solutions that will benefit all market participants. The strategic and financial benefit we will derive from our investors is of enormous value as we move ahead in this process, and we thank them for their support."
"We are pleased that through our investment in Quadriserv we can help clients achieve their goal of greater transparency in stock loan pricing," said Syl Chackman, co-head of Merrill Lynch (NYSE:MER) prime brokerage. "As a market leader in stock lending and prime brokerage, Merrill Lynch will be well-positioned to guide clients through market structure changes in stock loan, including through Quadriserv and through Merrill Lynch proprietary channels," he added.
"We share Quadriserv's fundamental conviction that the securities lending market is undergoing an important evolution," added Todd Simkin, Head of Susquehanna Private Equity Investments. "Our investment highlights our belief that Quadriserv has the people, technology and business strategy to emerge as a dominant force in driving these changes, and we look forward to working with the Company's management team to capture the opportunity."
About Quadriserv, Inc.
Quadriserv, Inc. is a provider of technology and business model innovation to the securities lending industry. Quadriserv has established itself as a leader in delivering transformational market structure changes to beneficial owners, agent and custodial banks, broker dealers and hedge funds. For more information, please visit: www.quadriserv.com
About Bessemer Venture Partners
Bessemer Venture Partners is a global investment group with offices in New York, Silicon Valley, Boston, Beijing, Mumbai, and Israel. As the oldest venture capital practice in the United States, Bessemer has partnered as an active, hands-on investor in Ciena, Ingersoll Rand, Parametric, Skype, Staples, VeriSign and W.R. Grace and over 100 other companies that have gone public.
About Merrill Lynch
Merrill Lynch is one of the world's leading wealth management, capital markets and advisory companies, with offices in 40 countries and territories and total client assets of approximately $1.6 trillion. As an investment bank, it is a leading global trader and underwriter of securities and derivatives across a broad range of asset classes and serves as a strategic advisor to corporations, governments, institutions and individuals worldwide. Merrill Lynch owns approximately half of BlackRock, one of the world's largest publicly traded investment management companies, with $1.4 trillion in assets under management at June 30, 2008. For more information on Merrill Lynch, please visit www.ml.com.
About Susquehanna International Group, LLP
Susquehanna Private Equity Investments, LLLP is an affiliate of Susquehanna International Group, LLP (SIG), a privately held financial institution specializing in trading and market making. SIG includes affiliated entities in institutional sales, research, private equity, venture capital and investment banking, and has offices across North America, Europe, Asia and Australia. For more information, please visit: www.sig.com