(Bloomberg) -- Five Arrows’ sale of wealth management software company Harvest is attracting initial interest from suitors including French investment group Wendel SE and buyout firm Cinven, people with knowledge of the matter said. 

TA Associates, Permira and Montagu Private Equity are also among potential bidders for Paris-based Harvest, said the people. Five Arrows, which is seeking a valuation of as much as €500 million ($535 million) for the business, has asked for bids by early May, the people said. 

The investment firm is working with tech advisory boutique Arma Partners on the sale, the people said, asking not to be identified as the information is private. A deadline for indicative bids in late April has been pushed back to early May to give bidders more time to finalize their offers, the people said. 

Deliberations are ongoing, and there’s no certainty they will lead to a deal. Representatives for Arma, Cinven, Montagu, Permira and Wendel declined to comment. Representatives for Five Arrows, Harvest and TA Associates didn’t respond to requests for comment. 

Five Arrows is the alternative assets arm of Rothschild & Co. and has more than €24 billion under management. 

Harvest makes software for the wealth management and finance industry, including for portfolio management and regulatory compliance. It has more than 4,600 clients, according to its website. Five Arrows took control of Harvest in 2019.

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