October Capital Formed with Dedicated Focus on Services Businesses

Siris Capital ("Siris") today announced the creation of October Capital, a private equity firm dedicated to investing in services businesses that enable enterprises to adopt and scale transformative technologies. Led by Frank Baker, who co-founded Siris in 2011 and will serve as CEO and Managing Partner, October Capital launches with three investments already in place: the completed acquisition of Takkion and the signed acquisitions1 of EQ Retirement Solutions and Lenvi.

Over the past 15 years, Siris has built a broader technology investing track record deploying more than $9.5 billion of equity capital, including more than $3 billion in services businesses, which have generated the strongest outcomes for its investors. October Capital builds on that experience with a team purpose-built to invest in growing services businesses that help enterprises implement, integrate and operate new technologies to accelerate growth and improve operational efficiency.

October Capital is initially focused on three areas where its team has deep domain expertise: (I) the infrastructure of the AI economy, encompassing the services required to facilitate the AI buildout at scale; (II) the transformation of physical security, as enterprises adopt modern technology to counter evolving physical threats; and (III) the evolution of financial infrastructure, including services supporting the modernization of financial markets and the adoption of digital assets.

Baker leads a team of 16 investment professionals², including Managing Directors Dave Calamai and Seth Harward and Principals Kevin O'Brien and Grant Weisberg. These senior leaders bring deep experience investing in technology and services businesses.

"Technologies such as AI and blockchain are going to reshape the global economy, but none of that promise matters until it works in the field," said Baker. "Services businesses bridge that gap, helping enterprises adopt and deploy these technologies at scale. It's an enormous opportunity, and one we are well positioned to capture."

The creation of October Capital follows a year of significant transformation and momentum, including:

• Announced sale of Equiniti to Bullish (NYSE: BLSH) for $4.2 billion, creating a market-leading, global transfer agent for tokenized securities and digital assets¹
  

• Closed acquisition of Takkion, October Capital's first platform investment, a leading services provider to the energy industry, which is strongly positioned to benefit from rising power demand driven by AI data center expansion
  

• Signed acquisition of EQ Retirement Solutions, providing pension programs with automation tooling and digital payments infrastructure to support more than 10 million members and £10 billion in annual payments¹
  

• Signed acquisition of Lenvi, providing loan servicing platforms and AI analytics to enable fraud detection and provisioning, serving more than 150 lenders and over £100 billion of credit assets under management¹
  

• Expanded the investment team with meaningful new hires
  

For more information, visit octobercapital.com.

About October Capital
October Capital is a private equity firm investing in the services businesses that help enterprises adopt, integrate and scale transformative technologies. Led by Frank Baker, who co-founded Siris in 2011, October Capital builds on a 15-year technology investing track record established at Siris, encompassing more than $9.5 billion of equity capital deployed. The firm combines deep sector expertise and extensive industry relationships with a direct, transparent and collaborative approach to partnering with management teams. October Capital is headquartered in West Palm Beach, Florida. For more information, visit www.octobercapital.com.

Media Contact
Kate Kelley / Madeline Jones
Joele Frank, Wilkinson Brimmer Katcher
OctoberCapital-JF@JoeleFrank.com
(212) 355-4449

¹ Transaction expected, but not guaranteed, to close in November 2026 and will be subject to customary closing conditions
² Totals as of October 2026 and includes one individual starting in January 2027