Carlyle Acquires intelliflo and RedBlack in $200M Wealthtech Deal - InforCapital

London and Atlanta, August 26, 2025 – Carlyle has signed a definitive agreement to acquire intelliflo from Invesco, in a transaction valued at up to $200 million. The deal includes intelliflo’s US-based units, which will be rebranded as RedBlack, establishing it as a standalone company under separate leadership.

Founded in 2004 and headquartered in London, intelliflo provides a cloud-native practice management platform used by over 30,000 professionals at 2,600 advisory firms across the UK, managing more than £450 billion in client assets. Its SaaS platform integrates CRM, financial planning, onboarding, compliance, and reporting, with connections to over 120 third-party applications.

The acquisition will support intelliflo’s continued expansion in the UK and accelerate growth into the Australian wealthtech market. Meanwhile, RedBlack will focus solely on the U.S. RIA segment, where it already supports more than $825 billion in assets and provides portfolio rebalancing and investment management tools to wealth advisors nationwide.

Carlyle will back both businesses with capital and operational support, enabling focused growth and product innovation. Equity for the investment will come from Carlyle Europe Technology Partners (CETP) V, a €3 billion fund focused on high-potential technology companies across Europe. CETP has recently backed firms including Calastone, CSS, SER Group, and SurePay.

The deal reflects growing investor appetite for SaaS-driven platforms that streamline operations and compliance for wealth advisors. In 2025, similar carve-outs include Hg Capital’s acquisition of AdvisorEngine from Franklin Templeton, and Great Hill Partners’ majority investment in Advyzon, both targeting next-gen digital wealth management solutions.

Nick Eatock, CEO and founder of intelliflo, will remain in charge of the UK and Australian business, while Bryan Perryman has been appointed CEO of RedBlack. Both leaders emphasized the opportunity to scale independently with Carlyle’s backing, enhancing client value and accelerating development of next-gen software capabilities.

For Invesco, the divestiture supports a broader strategy of focusing on core investment management operations while maintaining distribution partnerships with both intelliflo and RedBlack. The firm acquired intelliflo in 2018 and helped grow the platform into a category leader in the UK and U.S. advisory segments.

The transaction is expected to close in the fourth quarter of 2025, subject to regulatory approvals and customary closing conditions. Evercore served as financial advisor to Invesco, while Gibson Dunn advised Carlyle.