Global wealth management tech giant FNZ has acquired Luxembourg-based B2B fund platform International Fund Services & Asset Management (Ifsam) for an undisclosed sum.
The deal is subject to regulatory approval.
FNZ said the acquisition will strengthen its global proposition to both asset managers and distributors adding product, research, data and service solutions to its wealth management platform.
This will include broader access and expertise to serve alternative asset classes.
Luc Duarte, managing partner of Ifsam, will continue in his role and oversee the B2B fund platform’s direct relationships with more than 30 distributors and 300 asset managers globally.
Din Mustaffa, FNZ Group chief strategy officer, 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.
“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 – we have been particularly impressed by the strong relationships the business has managed to establish with its partners. We look forward to welcoming our new Ifsam colleagues to FNZ.”
