Created in 2000, Allfunds offers integrated technology based solutions to asset managers and distributors of mutual funds.
It was originally owned in equal parts by Spanish bank Santander and Italian bank Intesa Sanpaolo.
Santander currently owns 25%, with Intesa holding 50%. The remaining 25% stake is owned by two US funds; General Atlantic and Warburg Pincus.
According to Reuters, Santander will net around €470m with Intesa getting around €900m from the sale.
Company size
The company has a global network of offices across Europe, Asia and Latin America, having expanded into the region in September 2015. In December 2016, the company announced plans to grow in Asia by launching an operational hub in Singapore.
Allfunds has over €265bn of assets under administration.
Growth potential
Blake Kleinman, managing director at Hellman & Friedman, said: “Allfunds is a clear leader in its sector, with a best-in-class service that leverages its technology proposition and strong operational track record. We look forward to bringing our financial technology expertise to bear as we support Allfunds in continuing to deliver and innovate for its clients.”
Henry Ormond, head of direct investments group in Europe at GIC Private Equity, said: “As a long-term value investor, GIC is confident in Allfunds’ scalable business model based on its leading European market platform, diversified customer base and long-term contracts.
“We believe the company, supported by our partnership with Hellman & Friedman, will grow to be the global market leader in the fund management industry.”
