Global wealth management platform FNZ is to acquire International Fund Services & Asset Management SA (ifsam), subject to regulatory approval. Luc Duarte, managing partner, will maintain oversight of the company.
Based in Luxembourg, B2B fund platform ifsam provides custody for investment fund shares and the execution of subscription and redemption processes. It currently has more than 500 counterparties, representative of 2000 fund depositories spread across 46 countries.
Following the acquisition, FNZ will be able to offer additional product, research, data and service solutions within its end-to-end wealth management platform. By servicing an increased range of alternative asset classes, FNZ will continue to follow its goal of making the wealth management industry more accessible through customised investment solutions.
Further developing the company’s expansion into Europe, ifsam’s Luxembourg base will become FNZ’s ‘centre of excellence for fund distribution and custody services in Europe,’ it says.
Diao & Co served as exclusive financial advisor to FNZ, while NovitasFTCL provided advisory services to ifsam and its shareholders.
Din Mustaffa, group chief strategy officer at FNZ, says: “We are excited to make another significant investment in Europe that strengthens our capabilities in the wealth management sector. 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.”
Duarte comments: “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.”
