H.I.G. Capital Announces the Sale of FNZ
H.I.G. Capital (“H.I.G.”), a leading global private equity investment firm with over €24 billion of equity capital under management, announced today that one of its affiliates has entered a definitive agreement to sell its stake in FNZ (“FNZ” or the “Company”), the market leading Platform-as-a-Service (“PaaS”) provider to the European wealth management industry, to Caisse de Depot et Placement du Quebec (“CDPQ”) and Generation Investment Management LLP (“Generation”) (“CDPQ-GIM”) in a transaction valuing the Company at £1.65 billion.
Headquartered in Edinburgh, United Kingdom, FNZ is a market leading Platform-as-a-Service provider to the European wealth management industry. During H.I.G.’s ownership, the Company has delivered exceptional growth and substantially grew 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. As a result, FNZ is now the European market leader with a broad service offering.
Carl Harring, Managing Director at H.I.G. Capital, commented: “H.I.G. is proud to have been a long-term partner of FNZ. During our nine years of ownership, the Company experienced exceptional growth in assets under administration from £5bn to over £330bn, and became the European Platform-as-a-Service market leader in the wealth management industry. 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, CEO, FNZ, stated: “We would like to thank the H.I.G. team for their advice, investment and operational support over the years. 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.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with over €24 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Mexico City, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:
1. H.I.G.’s equity funds invest in management buyouts, recapitalisations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
2. H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
3. H.I.G.’s real assets funds invest in value-added properties, which can benefit from improved asset management practices.
Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm's current portfolio includes more than 100 companies with combined sales in excess of €28 billion. For more information, please refer to the H.I.G. website at www.higcapital.com .
FNZ, founded in 2003, is a global FinTech firm which is transforming the way financial institutions serve their wealth management customers. It partners with banks, insurers and asset managers to help consumers better achieve their financial goals. Today, FNZ is responsible for over £300 billion in assets under administration held by around 5 million customers of some of the world’s largest financial institutions, including Standard Aberdeen, Barclays, Lloyds Bank, Vanguard, Generali, Quilter, Santander, Aviva, Zurich, UOB, UBS, Findex and BNZ. In total, FNZ partners with over 60 financial institutions across the UK, Europe, Australia, New Zealand and South-East Asia.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.
Information om Business Wire
101 California Street, 20th Floor
CA 94111 San Francisco
Følg pressemeddelelser fra Business Wire
Skriv dig op her og modtag pressemeddelelser på mail. Indtast din mail, klik på abonner og følg instruktionerne i den udsendte mail.
Flere pressemeddelelser fra Business Wire
CA-XPRIZE22.10.2018 19:52 | pressemeddelelse
Grand Prize Winner in $1.75M Water Abundance XPRIZE Announced at XPRIZE Visioneering 2018
IL-GILEAD/GALAPAGOS22.10.2018 19:17 | pressemeddelelse
Positive Trial Results with Filgotinib in Psoriatic Arthritis and Ankylosing Spondylitis Both Published in The Lancet
INSIDE-SECURE/FIRST-DATA22.10.2018 17:38 | pressemeddelelse
First Data Polska Deploys Inside Secure’s Mobile Payment Technology To Securely and Easily Connect to Mastercard and Visa
PA-PMI22.10.2018 16:02 | pressemeddelelse
PMI Launches Search for Next President and CEO
TX-E2OPEN22.10.2018 15:45 | pressemeddelelse
E2open to Acquire INTTRA, Adding the World’s Leading Ocean Shipping Network and Software Provider, Creating an Integrated Global Supply Chain and Logistics Operating Network
RAREMARK22.10.2018 14:02 | pressemeddelelse
Patient-Data Platform Raremark Raises £3m to Enable Precision Medicine in Rare Disease
I vores nyhedsrum kan du læse alle vores pressemeddelelser, tilgå materiale i form af billeder og dokumenter, og finde vores kontaktoplysninger.Besøg vores nyhedsrum