Wealth management platform FNZ has agreed to acquire Luxembourg-based business-to-business (B2B) fund platform International Fund Services & Asset Management (ifsam).
The financial terms of the deal were not revealed.
Through the acquisition, FNZ expects to bolster its global client proposition for asset managers as well as distributors.
The company will enhance its existing end-to-end wealth management platform by adding advanced product, research, data, and service solutions.
According to FNZ, customers and distribution partners will be benefitted from expanded access and know-how to service alternative asset classes apart from enhancing efficiencies across the wealth management value chain.
Authorised by the Commission de Serveillance du Secteur Financier (CSSF), ifsam provides the execution of subscription and redemption processes and the custody of fund shares for all forms of investment funds. These include alternative fund products such as hedge funds, venture capital, and private equity funds.
Ifsam managing partner Luc Duarte said: “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.”
FNZ is said to bring together technology, infrastructure, and investment operations into a unified platform to support global financial institutions to quickly provide personalised services and wealth products that are suited to the requirements of their customers.
The wealth management platform aims to expand access to wealth by providing tailored investment solutions across the wealth management industry.
FNZ expects to further scale its continental European operations into Luxembourg through the acquisition of ifsam.
FNZ Group chief strategy officer Din Mustaffa 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.”
The closing of the deal is subject to regulatory approval.
Last month, FNZ signed a deal to acquire YieldX, an American provider of fixed income portfolio management technology, optimisation services, and direct indexing tools for the wealth management sector.