Arcesium, a financial technology company that runs data and operations software for hedge funds, asset managers and private market firms, said on February 2, 2026 that it had acquired Limina, a Stockholm-based provider of portfolio and order management software. It is the first acquisition Arcesium has made since it was set up as an independent company.
The companies did not disclose the price or other financial terms. Arcesium said the entire Limina team would join the company and work on product development. Kristoffer Fürst, Limina's founder and chief executive, is joining Arcesium and will report to Bryan Dougherty, Arcesium's president of product and technology.
Arcesium plans to combine Limina's front-office tools with its own middle- and back-office products. The stated aim is a single platform that covers an investment from the moment a trade is planned through to accounting and reporting, so that clients no longer need to connect separate legacy systems and data stores.
What Limina built
Limina was founded in 2014 and is headquartered in Stockholm. It sells a portfolio and order management system, often shortened to P/OMS, which portfolio managers and traders use to model portfolios, generate orders and route trades.
The company describes its product as cloud-native and multi-asset, covering both front-office and middle-office workflows. That puts it on the trading side of an investment firm, the part of the operation that Arcesium's software did not previously serve directly.
Limina's funding history and headcount were not disclosed in the announcement. Zelig Associates advised Limina on the transaction.
“For more than a decade, Limina has been challenging the status quo and shaping a new era of investment management technology.”
Why Arcesium is buying
Arcesium's business has been built around the work that happens after a trade: data management, reconciliation, accounting and other post-investment operations. By its own count, the company services more than $5.3 trillion in gross assets under management and more than $1.2 trillion in sell-side capital balances, has modelled over 160 million investments and employs more than 2,300 people.
Adding an order management system lets Arcesium pitch a front-to-back offering, a category in which investment firms often end up stitching together products from several vendors. The company said Limina's cloud design and asset coverage fit with its own data and back-office technology, and that the combined platform would be modular, so clients could adopt parts of it.
Gaurav Suri, Arcesium's chief executive, called the deal a watershed moment for the company and said both firms had their roots on trading floors. Fürst, for his part, said that unified workflows on one platform with reliable data were what investment managers needed most.
Expanding in Europe
The acquisition also gives Arcesium a larger base in Europe. The company said the deal should strengthen its European presence and support growth in the United States and other international markets.
It follows two office openings. Arcesium opened an office in Lisbon in 2024 and another in Hong Kong in January 2026.
OPCO Advisory Services acted as financial adviser to Arcesium. Law firm Arnold & Porter, which advised Arcesium from the letter of intent through the definitive acquisition agreement and on post-closing integration, said in a separate note on February 13 that the transaction was Arcesium's first acquisition.
Who owns Arcesium
Arcesium started as a platform built inside the D. E. Shaw group, the New York investment firm. It became an independent company in 2015 through a joint venture between D. E. Shaw and Blackstone Multi-Asset Investing. J.P. Morgan later made a strategic investment in the business.
That ownership places the company close to the type of client it serves. Many of its customers are hedge funds and institutional managers with complex, multi-asset portfolios, the same buyers that Limina targeted with its trading software.
Neither company said how Limina's existing customers would be migrated or whether the Limina product name would be kept. Arcesium said only that the Limina team would contribute to its product roadmap.
