Miami International Holdings, Inc. (MIH), a technology-driven leader in building and operating regulated financial markets across multiple asset classes,  announced it has obtained $40 million in incremental funding from Warburg Pincus, a leading global growth investor.

The proceeds were used to finance a portion of MIH’s acquisition of The International Stock Exchange (TISE), a leading market in Europe for listing high yield bonds, structured finance products and securitization transactions.

The investment provides significant support for MIH’s global expansion as it executes on its strategy of building a diversified revenue stream across multiple geographies.

“The expansion of our relationship with Warburg Pincus through the new investment is an important validation of our international growth strategy,” said Thomas P. Gallagher, Chairman and CEO of MIH. “The acquisition of TISE allows us to further expand our global footprint and provides additional opportunities to leverage our relationships with existing U.S. members and accelerate our international growth.”

In August 2024, Warburg Pincus’ Capital Solutions team provided a $100 million growth investment earmarked to support a number of MIH initiatives including the launch of the MIAX Sapphire options exchange, the buildout of a physical trading floor in Miami, the development of the new MIAX Futures Onyx trading platform and the growth and expansion of MIH’s agricultural and financial futures businesses on MIAX Futures and MIAXdx.

“We are pleased to bolster MIH’s international expansion with this additional investment and it is a clear indication of our support for MIH and its growth initiatives,” said Lee Becker, Managing Director, Warburg Pincus. “The acquisition of TISE is a key component of MIH’s global platform that enhances future growth opportunities.”

Piper Sandler & Co. acted as financial advisor to MIH in connection with the transaction. Davis Polk & Wardwell LLP served as financing counsel to Warburg Pincus. Cleary Gottlieb Steen & Hamilton LLP served as counsel to MIH. Reed Smith LLP served as English legal advisor to MIH and Mourant Ozannes (Guernsey) LLP served as Guernsey legal advisor to MIH on the acquisition of TISE. Gallagher, Briody & Butler serves as corporate counsel to MIH.

Source: MIH