AirFund, a platform linking private markets fund stakeholders, has received a financing round of €6 million, jointly led by Amundi and Indosuez Wealth Management.
This transaction will help market private asset funds managed by Amundi and Indosuez, streamlining subscription and repurchase transactions. AirFund said this funding round will support its ongoing R&D endeavours and expansion into Switzerland, Germany, Benelux, the UK, Spain and Italy.
Through the deal, the two companies became minority cornerstone shareholders and will participate in AirFund’s governance and strategic committee.
The investment involved three strategic partnerships. In the first one, AirFund and Amundi Alternative & Real Assets joined to expand services. Amundi’s funds are now accessible via AirFund, reaching new customers and providing digital channels for existing clients. Amundi will help AirFund offer asset manager and distributor clients tailor-made real asset fund of funds and feeder fund vehicles.
In the second deal, Indosuez Wealth Management partnered with AirFund to digitalise the distribution of private market funds to investors, the Crédit Agricole Group’s network banks and its external distribution partners. Additionally, AirFund will digitalise the deal distribution for Indosuez’s real estate business.
In the third partnership, the B2B distribution platform Fund Channel, a joint venture of Amundi and the custodian bank, Caceis, partnered with AirFund to expand its fund offerings to distributors by incorporating private asset funds through automated private asset fund flows.
Alexandre Harkous, chairman and founder of AirFund, OneWealthPlace Group, said: “This operation enables us to become a major player in the distribution of private asset funds in Europe. Additionally, this will enable us to double our workforce in France and Europe, better support our customers and partners and diversify revenues.”
Nicolas Calcoen, deputy CEO and head of strategy, finance and control at Amundi, said, “This partnership will enable Fund Channel to expand its service offering to private assets. It will also enbable the Amundi real and allternative platform to make our products more accessible through digitalising the customer journey among institutional and retail investors.”
Nicolas Renauld, global head of private markets at Indosuez, added: “This partnership is part of our strategy to accelerate the firm’s presence in private markets. Digitalisation is an essential element in improving the experience of our investors and partners.”
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