Carlyle to Invest in Abrigo at $1 Billion-Plus Valuation (1)

Abrigo, an Accel-KKR-backed software provider for financial institutions, has secured an investment from private equity firm Carlyle Group Inc.

The Austin, Texas-based company is valued at more than $1 billion after the investment, according to people with knowledge of the matter who asked not to be identified discussing private information.

Terms of the deal weren’t disclosed and Carlyle and Abrigo declined to comment on the valuation. With the transaction, Carlyle becomes an equal partner in the business with Accel-KKR, which has backed it since 2015, said Abrigo Chief Executive Officer Wayne Roberts.

Abrigo’s software provides multiple ...