The founders of UK-based Oxane Partners have initiated the process to sell majority stake in the software provider to private credit and alternative asset managers, seeking a valuation of $200-250 million, according to three people familiar with the matter.
The sale comes as technology providers serving the fast-growing private credit market draw increasing investor interest, with specialist software firms benefiting from the asset class's rapid expansion.
“They have engaged Avendus and Jefferies as advisors to help manage the process,” one of the people cited above said.
“The deal is still in the early days and initial feelers have been sent out to the top private equity firms with a large exposure to software and IT (information technology) services,” a second person cited above said.
All three people spoke on condition of anonymity. Emails sent to Oxane's promoters, Vishal Soni and Sumit Gupta, did not elicit a response till the time of publishing. Jefferies and Avendus also did not respond to Mint's requests for comment.
Founded in 2014 by former Deutsche Bank credit traders, Oxane Partners develops software for banks, hedge funds and private equity firms to manage, monitor and analyse private credit portfolios through its flagship platform, Oxane Panorama. The platform integrates data, reporting and portfolio management across the investment lifecycle, while also offering artificial intelligence (AI)-powered insights, enterprise data management and independent third-party valuations.
The company has more than 900 employees across New York, Gurgaon and Hyderabad and competes with firms including Maybern, Chronograph, Cognitive Credit, Inveniam, Colmore and Allvue Systems, according to news reports.
Unlike many software startups, Oxane has never raised institutional capital, scaling organically to serve more than 100 clients, including global banks. According to its website, its platform supports more than $1 trillion of aggregate client assets under management.
Its products are used predominantly in North America and Europe, where demand for private credit technology has been rising. In India, the company reported standalone revenue of ₹164.3 crore in FY25, up from ₹104.6 crore a year earlier, according to the ministry of corporate affairs filings sourced from Tofler. Profit rose to ₹13.7 crore from ₹9.3 crore. Consolidated financial statements were not available.
Globally, the private credit market has seen a steady rise over the past decade as institutional investors focused on the benefits of increased diversification without sacrificing meaningful returns, KPMG highlighted in a report last year.
Specialized nonbank financial institutions, such as investment funds, pension funds, insurance, and sovereign wealth funds have lent over $2.1 trillion globally in assets and committed capital with about three-quarters of this activity concentrated in the US. To support this growth, many third-party technology providers have flooded the market to address unique operational challenges related to this asset class, thereby leading to the fragmentation of technology providers, KPMG noted.