eSecLending Sold to Private Equity Shop

March 28, 2006 ( - Boston-based private equity firm TA Associates will buy securities lending company eSecLending, currently majority-owned by London-based Old Mutual Plc, the companies announced.

The announcement did not specify terms or a time frame for the deal.

eSecLending manages securities lending programs for some of the world’s largest institutional investors, including the California Public Employees’ Retirement System (CalPERS), the biggest US public pension fund (See CalPERS Completes Two SecLending Auctions ).

“This transaction allows us access to the talents and experience of TA and its deep network of financial partners, while also maintaining continuity in management and employees, and preserving our independence as a lending agent,” said Susan Peters, CEO of eSecLending, in a statement.

Boston-based eSecLending awards securities lending business through a competitive auction process. eSecLending has auctioned more than $750 billion in multiple asset classes since inception in October 2000 and currently has $21 billion in cash collateral assets under management.