Asset management firm DWS has entered into a strategic partnership with private equity firm BlackFin to evolve its digital investment platform IKS.
IKS provides digital solutions to distribution partners, retail clients, and institutional investors.
The aim of the partnership is to improve the opportunities offered by the market.
BlackFin and DWS also agreed to transfer the platform into a joint venture with DBS keeping a 30% stake.
The financial terms of the deal were not disclosed.
The deal is subject to regular approval and is expected to close in the second half of 2022.
‘True pan-European player’
Dirk Goergen, head of client coverage division at DWS, said: “Our aspiration is to deliver a best-in-class client experience and service. Digital capabilities and solutions are key for this – therefore we firmly believe in the great growth potential of the platform business.
“With BlackFin, we have found the right partner to help us unlocking the full potential of our digital investment platform IKS. Our joint mission is to create a true pan-European player and we look forward to working with our new partners and making IKS a strong sales channel for DWS in the long term.”
Laurent Bouyoux, president and founding partner of BlackFin Capital Partners, added: “We share the vision of DWS to provide best in class solutions for its clients. To do this, BlackFin will lean on our demonstrated history of successfully leveraging technological, operational and regulatory expertise to seamlessly execute complex carve-outs in order to create efficient stand-alone champions.
“For over two decades, we have played a key role in the transformation of the European financial services industry with an established track record of building and growing digital investment platforms while improving client satisfaction. Additionally, our deep relationships within the financial services sector across Europe have consistently delivered growth via international expansion.
“In partnering with DWS, BlackFin has cemented our commitment to the Dach region and our position as the reference private equity partner for major European financial institutions. We are thrilled to embark on this journey with such a storied organiaation.”
