The owner of the London Stock Exchange has struck a $1bn deal to sell a leading wealth technology platform to a consortium of investors.

Sky News has learnt that London Stock Exchange Group (LSEG) is selling a group of assets called BETA+ to Motive Partners and Clearlake Capital Group – the latter of which is part of an ongoing bid for Chelsea Football Club.

A source said the deal, which could be announced as early as Monday, comprised assets that were acquired as part of LSEG’s $27bn takeover of Refinitiv, which completed last year.

The BETA+ businesses are understood to be non-core to LSEG’s strategy, although the company is expected to form a new long-term strategic partnership with the assets’ new owners.

It was unclear what LSEG would use the proceeds of the disposal for, although paying down debt and returning cash to shareholders are likely to be high on the list of priorities for David Schwimmer, the company’s chief executive.

LSEG, which has a market value of over £44bn, has had a rocky ride selling the benefits of the Refinitiv deal to investors, although its shares have started to recover over the last year.

Mr Schwimmer replaced Xavier Rolet, the long-serving chief, who was among the overseas businessmen who resigned from the boards of Russian-owned companies in recent weeks.

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The wealth technology sector has seen a blizzard of fundraising and other corporate activity in recent months, including a fundraising by FNZ, which recently raised more than $1bn at a valuation of over $20bn.

LSEG is understood to be being advised by Bank of America, while Wells Fargo is advising the consortium.

Neither LSEG nor Motive Partners would comment on Monday morning.

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