Distribution network Allfunds Group has joined forces with Credit Suisse to create a wealth technology platform with over €500 billion in assets under management (AuM) operating across 45 countries.
The combined business will distribute nearly 80,000 funds and exchange-traded funds (ETFs) to over 700 distributors worldwide.
The deal includes the transfer of all shares in Credit Suisse InvestLab (a European B2B fund and ETF platform), its team, technology, and related service and distribution agreement to Allfunds.
InvestLab’s management team will take up senior leadership roles within the combined business, with Credit Suisse using the platform as part of its client offering.
Majority ownership will be held by American private equity firm Hellman & Friedman and Singapore-headquartered GIC. Credit Suisse retains a minority stake in the business, as well as a distribution relationship with Allfunds which will continue to operate independently.
The transaction will be implemented in staggered closings.
Allfunds, a wealthtech company with more than €380 billion in assets under administration, specialises in big data and analytics, portfolio and reporting tools, as well as research, and regulatory services.
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