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The acquisition strengthens FNZ’s client proposition by enhancing its end-to-end wealth management platform, providing access to specialist talent, expertise and a presence in Luxembourg.
Ifsam serves as a leading business-to-business (B2B) fund platform that supports the efficient trading of funds, leveraging its direct relationships with around 300 fund management companies.
Luxembourg, the largest fund centre in Europe, will become FNZ’s centre of excellence for fund distribution and custody services in Europe.
Clients will benefit from additional capabilities and increased efficiencies in fund dealing and custody services, including specialized capabilities in servicing alternative asset classes such as hedge funds, private equity, and venture capital funds.
The acquisition further enhances FNZ’s mission of opening up wealth, helping everyone to invest in their future, on their terms.
8 February 2023, Luxembourg: FNZ, the global wealth management platform, has agreed to acquire International Fund Services & Asset Management SA (ifsam), a Luxembourg-based B2B fund platform.
The acquisition, which is subject to regulatory approval, will strengthen FNZ’s global client proposition for both asset managers and distributors, adding advanced product, research, data and service solutions to its existing end-to-end wealth management platform. Clients and distribution partners will benefit from broadened access and expertise to service alternative asset classes, as well as improving efficiencies across the wealth management value chain.
The acquisition of ifsam further scales FNZ’s continental European operations into Luxembourg. Its team, combined with the strategic location in Luxembourg, which is the largest fund centre in Europe, will form FNZ’s centre of excellence for fund distribution and custody services in Europe. This will further enhance FNZ’s suite of best-in-class digital solutions and services for the wealth management sector and asset management companies.
FNZ combines cutting-edge technology, infrastructure, and investment operations into a single, state-of-the-art platform, enabling global financial institutions to rapidly deliver personalized services and innovative wealth products that are seamlessly aligned with the needs of their clients. FNZ’s mission is to open up wealth by delivering customized investment solutions to more people across the wealth management industry.
ifsam is a Luxembourg based financial institution authorised by the Commission de Serveillance du Secteur Financier (CSSF). With a team of seasoned subject matter experts, the company offers the execution of subscription and redemption processes and the custody of fund shares for all types of investment funds, including alternative fund products such as hedge funds, private equity and venture capital funds.
Luc Duarte, managing partner at ifsam, will continue in his role and oversee ifsam’s existing direct relationships with over 30 distributors and 300 major asset managers globally.
Din Mustaffa, FNZ Group Chief Strategy Officer, said: “We are excited to make another significant investment in Europe that strengthens our capabilities in the wealth management sector. The acquisition broadens our fund servicing capabilities and reach, particularly by expanding our footprint in the largest European fund hub and our coverage of alternative asset classes that are becoming an increasingly important component in servicing our partners.”
This acquisition reflects our continued focus on enhancing our client proposition, while bringing our innovative approach and technological investment to ifsam’s excellent client base – we have been particularly impressed by the strong relationships the business has managed to establish with its partners. We look forward to welcoming our new ifsam colleagues to FNZ.
Luc Duarte, ifsam Managing Partner, said: “We are thrilled to be joining FNZ. Together with FNZ, we will accelerate our growth trajectory and broaden the suite of capabilities to better serve our existing and new clients with additional technology and service solutions.”
“Our colleagues and associates at ifsam will enjoy the opportunities in delivering on this ambition and vision, which offers even more exciting long-term career opportunities to lead and impact the global wealth management industry.”
Diao & Co. LLC acted as the exclusive financial advisor to FNZ on this transaction. NovitasFTCL advised ifsam and its shareholders on this transaction.