Blackstone and Warburg Pincus Explore $10 Billion IntraFi Sale

Blackstone Inc and Warburg Pincus are exploring the sale of IntraFi, a financial technology company, at a valuation exceeding $10 billion. The private equity firms have engaged Morgan Stanley and Guggenheim Securities to advise on the process, which remains in its early stages.

Based in Arlington, Virginia, IntraFi operates the largest reciprocal deposit network in the United States. The platform allows banks to spread customer funds across multiple institutions to secure federal insurance on balances exceeding $250,000 and facilitates the buying and selling of deposits. The company reportedly generates $630 million in annual EBITDA.

While the owners are exploring a sale to capitalize on improving dealmaking conditions, they have not made a final decision and may choose to retain the business.