Goldman Sachs-Led Consortium Acquires Majority Stake in NAVEX, Marking Major GRC Software Investment

Key Takeaways

• NAVEX Acquisition: Goldman Sachs Alternatives, alongside Blackstone, has acquired a majority stake in NAVEX, a leading GRC software provider.
• Vista Exits, BC Partners Retains Minority: Vista Equity Partners fully exits the company, while BC Partners retains a significant minority interest.
• Expansion and Product Innovation: The investment is expected to fuel NAVEX’s international growth and enhancements to its NAVEX One platform.
• Investor Momentum in GRC: The deal highlights investor confidence in the value of compliance, ethics, and risk platforms amid rising regulatory demands.

Deep Dive

A consortium led by Goldman Sachs Alternatives, including Blackstone, has acquired a majority stake in NAVEX, a global provider in ethics, risk, and compliance software, in a deal that demonstrates growing investor appetite for governance, risk, and compliance (GRC) platforms amid increasing regulatory complexity.

The agreement, announced July 21, 2025, sees Goldman Sachs Alternatives’ Private Equity business take over the majority stake from BC Partners and Vista Equity Partners. Blackstone, investing through its private equity strategy for individual investors, joins as a significant minority shareholder. While BC Partners will retain a meaningful minority stake, Vista Equity Partners will fully exit its investment.

The acquisition is set to try to accelerate NAVEX’s global expansion and product development roadmap. NAVEX CEO Andrew Bates welcomed the new investment, calling it a “testament to the extraordinary value and future potential” of the company. He emphasized the strategic alignment with Goldman Sachs Alternatives, Blackstone, and BC Partners as NAVEX seeks to scale innovations and strengthen its market-leading position.

The deal comes as GRC software becomes an increasingly critical asset for enterprises navigating regulatory risks, third-party exposures, and ethical governance obligations. With digital transformation reshaping risk profiles across sectors, demand for integrated platforms like NAVEX One has surged.

Goldman Sachs Alternatives’ Harsh Nanda, Partner and Head of Technology Private Equity, said the consortium looked forward to partnering with NAVEX in its “next chapter,” praising BC Partners and Vista for their prior stewardship. Managing Director Joon Park added that NAVEX’s brand strength, global customer base, and leadership in ethics and compliance make it “well-positioned for continued success and value creation.”

David Schwartz, a Senior Managing Director at Blackstone, echoed that sentiment, highlighting NAVEX’s role in helping companies “build stronger and more resilient organizations.” The new backers aim to leverage their global networks and operational expertise to support NAVEX’s long-term growth and product evolution.

BC Partners, which has been a key stakeholder since helping launch the NAVEX One platform and leading multiple strategic acquisitions, said it was proud of the company’s transformation into a global GRC leader. F. Mark Fariborz, Partner and Co-Head of Technology at BC Partners, expressed enthusiasm about partnering with Goldman Sachs and Blackstone going forward.

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