Freshfields advises Behavox on $175m preferred equity investment from HPS Investment Partners

Global law firm Freshfields is advising Behavox, the AI-native controls platform for global banks, asset managers, hedge funds and commodity firms, on its $175 million preferred equity investment from investment funds and accounts managed by HPS Investment Partners (‘HPS’), a leading global credit investment firm and part of BlackRock.

The investment positions Behavox to accelerate global growth, expand its Unified Controls Platform, and pursue disciplined M&A.

As part of the completed transaction, Behavox fully repaid and retired its $70 million venture-debt facility with Hercules Capital Inc., further strengthening its balance sheet. The investment follows a year in which Behavox grew its customer base by 86% to more than 100 major financial institutions across five continents.

SoftBank Investment Advisers is undertaking a partial sale and will retain a minority position in Behavox.

Freshfields served as legal counsel to Behavox on the transaction, with the team led by London partner Rhys Evans, and associates Jo Lee, Jennifer Okoye, Megan Rodgers and Jonathan Stelzer with support from Ethan Klingsberg, Freshfields’ Co-Head of US Corporate and M&A. Additionally, New York-based Klingsberg has been integral to initiating and nurturing the firm’s strong relationship with Behavox.

Further information on the transaction can be found here.