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Blackstone and Warburg Pincus explore IntervEX sale
Blackstone and Warburg Pincus are preparing to sell American fintech company InterFi, valued at over $10 billion. The potential deal involves advisory services from Morgan Stanley and Guggenheim. InterFi manages the largest mutual deposit network in the United States, which helps banks distribute customer funds and provides deposit insurance coverage exceeding the usual limit, while earning revenue from transaction fees. The consideration of a sale comes amid improving deal-making conditions and exit opportunities from investments, as the company reported annual profits before interest, taxes, depreciation, and amortization (EBITDA) of $630 million. No final decision has been made yet, and the companies may choose to keep the company.
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