Carlyle Acquires intelliflo from Invesco for Up to $200 Million

Carlyle Group to acquire intelliflo from Invesco for up to $200 million. The deal includes a $135 million upfront payment and up to $65 million in future earn-outs. intelliflo provides cloud-based practice management software to over 30,000 professionals at 2,600 advisory firms. The acquisition is expected to close in Q4 2025, with intelliflo's US operations forming a standalone entity called RedBlack.

Title: Carlyle Group to Acquire intelliflo from Invesco for Up to $200 Million

Global investment firm Carlyle Group (NASDAQ: CG) has agreed to acquire intelliflo from Invesco (NYSE: IVZ) for a total purchase price of up to $200 million. The deal, announced on August 26, 2025, includes an upfront payment of $135 million with an additional $65 million in potential future earn-outs. The transaction is expected to close in the fourth quarter of this year, subject to certain closing conditions.

Founded in 2004 and headquartered in London, intelliflo provides cloud-based practice management software to over 30,000 professionals at approximately 2,600 advisory firms. The software supports the management of around £450 billion in client assets. intelliflo's platform delivers a range of functionalities, including CRM, financial planning, client onboarding, compliance workflows, and reporting. Its cloud-native, multi-tenanted SaaS architecture integrates with over 120 third-party applications.

As part of the acquisition, intelliflo's US-based subsidiaries will be established as a standalone business called RedBlack, run by a separate management team. This separation will allow both businesses to better serve and focus on their respective markets. intelliflo will concentrate on delivering market-leading software and innovation for the UK and Australian markets, while RedBlack will focus solely on delivering for Registered Investment Advisors (RIAs) and other financial advisors in the United States.

Carlyle Group will support the carve-out of both businesses from Invesco and partner with both leadership teams to execute their respective growth initiatives. The equity for the investment will be provided by Carlyle Europe Technology Partners ("CETP") V, a €3 billion fund which invests in technology companies across Europe.

Fernando Chueca, Managing Director in the CETP investment advisory team, stated, “intelliflo is a mission-critical software provider to the UK’s wealth management ecosystem, with a deeply embedded and loyal customer base. We are excited to partner with Nick, Bryan, and the team to unlock the company’s full potential and deliver a new stage of growth.”

Nick Eatock, CEO and Founder of intelliflo, commented, “This is an exciting moment for intelliflo. Carlyle’s investment reflects its trust in our business and its deep experience in scaling software companies make it an ideal partner for our next phase of growth. With Carlyle’s support, we will continue to focus on delivering great value to our clients, with a renewed focus on building innovative solutions for the evolving needs of our core UK and Australian customer bases.”

Bryan Perryman, CEO of RedBlack, added, “Our team is highly motivated by the opportunity to bring our full focus onto the US market as an agile, standalone company. RedBlack has a rich history of delivering market-leading software solutions for our US RIA customer base. We are excited to be backed in this endeavor by a sponsor with the reputation and credentials of Carlyle, which will continue to best position RedBlack to support advisors’ needs.”

Doug Sharp, Senior Managing Director, Head of Americas and EMEA at Invesco, said, “As intelliflo and the newly incorporated RedBlack embark on their next phases of growth with Carlyle, we are confident that both companies are well-positioned for continued success and innovation in the wealth technology space. We look forward to our continued relationship with intelliflo and RedBlack through our common interaction with wealth advisor clients.”

The transaction is expected to strengthen intelliflo’s market-leading position in the UK and accelerate its growth in Australia. Carlyle Group, with its extensive experience in financial software and wealthtech, aims to support both intelliflo and RedBlack in their growth initiatives.

References
1. [1] https://www.carlyle.com/media-room/news-release-archive/carlyle-acquire-intelliflo-invesco
2. [2] https://www.marketscreener.com/news/carlyle-europe-technology-partners-v-s-c-sp-fund-managed-by-the-carlyle-group-inc-nasdaqgs-cg-e-ce7c50d9dc8fff22
3. [3] https://www.marketsmedia.com/carlyle-to-acquire-intelliflo-from-invesco/