On February 21, 2025, Five Arrows, the alternative assets arm of Rothschild & Co, made a significant investment in KEV Group, a Toronto-based provider of school activity fee management software for K-12 schools in North America. The investment aimed to support KEV Group’s continued product development, expansion of U.S. operations, and inorganic growth initiatives.

Founded in 1996, KEV Group’s SchoolCash platform serves over 26,000 schools across 41 U.S. states and 9 Canadian provinces, managing more than $4 billion in funds annually. The platform offers a comprehensive solution for financial management, payments, and reporting at both district and school levels.

Northleaf Capital Partners and Partners Group led the senior secured credit facility to support the investment. Financial terms were not disclosed.

William Blair acted as the exclusive financial advisor to KEV Group, with Torys LLP providing legal counsel. Baird served as the financial advisor to Five Arrows, while Paul, Weiss, Rifkind, Wharton & Garrison LLP and Goodmans LLP served as M&A counsel. Paul Hastings LLP offered targeted payments legal counsel.