Alternative asset manager Carlyle Group has acquired London-based ITRS Group, a provider of trade monitoring technology and services to the financial services sector.

Alternative asset manager The Carlyle Group has acquired London-based ITRS Group, a provider of trade monitoring technology and services to the financial services sector.

Financial terms were not disclosed.

ITRS has more than 600 installations worldwide and its clients include eight of the top ten global investment banks, and several brokers, exchanges, hedge funds and data vendors.

In the year ending March 2011, ITRS generated more than £16 million in revenues. The company was formed in 1997 by Stephen Bates and Misha Kipnis.

Carlyle will support ITRS’ international expansion and is committed to broadening of the company’s specialised product offering.

Kevin Covington, CEO of ITRS comments: ‘We are exceptionally proud of our performance over the past decade, in which time ITRS has been on a rapid growth path driven by our outstanding team. We expect Carlyle’s global resources, international network and sector expertise will help propel us forward as we continue to expand and enhance our product offering for clients.’

Fernando Chueca, director in Carlyle’s European technology partners team adds: ‘As financial firms are increasingly challenged by the growing cost and complexity of running high-performance trading infrastructures, and facing the increased regulatory pressure to manage the operational risk of potential systems outages, ITRS is emerging as a truly best-of-breed solution provider for real-time application and infrastructure monitoring.’