thewealthnet     About Us    |    FAQs    |    Contact Us
  Advanced Search       RSS Feed  twitter  linkedin 
Welcome to thewealthnet    |   Europe, Middle East & Africa Get The App   |   Login
  Mon 18th Feb 2019  |    Make this my homepage  
Subscribe now!
Credit Cards Accepted
World Map
Wealth tech firm gets new owners
09/10/2018 , News Team

H.I.G. Capital (H.I.G.), a global private equity investment firm, has entered into a definitive agreement via one of its affiliates to sell its stake in FNZ, a platform-as-a-service (PaaS) provider, to Caisse de Depot et Placement du Quebec and Generation Investment Management LLP.

The transaction valued the company at £1.65 billion. 

During H.I.G.’s ownership, the company has grown its footprint and broadened its offering into continental Europe and Asia across all segments, from mass-market workplace pensions to mass affluent and high net worth clients. 

Carl Harring, managing director, H.I.G. Capital commented: “During our nine years of ownership, the company experienced exceptional growth in assets under administration from £5 billion to over £330 billion. FNZ has delivered an outstanding return for H.I.G. and its investors; we look forward to following the Company as it continues on its rapid global growth path”.

Adrian Durham, chief executive, FNZ, added: “Under H.I.G.’s ownership, we have successfully partnered to deliver exceptional growth and value creation for our investors, whilst driving down long-term costs for financial institutions and consumers alike”. 

JP Morgan acted as financial adviser to H.I.G. Capital.

Headquartered in Edinburgh, FNZ is a PaaS provider to the European wealth management industry. Founded in 2003, FNZ is a global FinTech firm which provides PaaS to the European wealth management industry. The Edinburgh-based company is responsible for over £300 billion in assets under administration held by around 5 million customers.

H.I.G. is a global private equity and alternative assets investment firm with over EUR 24 billion of equity capital under management.


Share with Linkedin Share with Twitter
Poor   Average   Good   Excellent
thewealthnet archives contain 51,103 articles dating back to 1997,making it the largest single source of information on the wealth management industry world-wide. To search for more articles, please click here.


© This article originally featured on thewealthnet. It is protected by international copyright law. If you copy this article illegally, you will be liable to prosecution. All rights in and relating to this article are expressly reserved. No part of this article may be reproduced, stored in a retrieval system or transmitted in any form or by any means without written permission from the publishers.

    Latest Headlines:    by Topic | All News
  Advertise   |   Contribute   |   Press Release   |   Terms of Use   |   Privacy   |   Contact Us Copyright Pam Insight Ltd., All Rights Reserved