The firm said the acquisition enhances its end-to-end wealth management platform, providing access to expertise and a presence in Luxembourg.

This week FNZ, a global wealth management platform that has inked a number of deals in recent months, agreed to acquire International Fund Services & Asset Management, a Luxembourg-based B2B fund platform.

The purchase, subject to regulatory approval, will strengthen FNZ’s global client proposition for both asset managers and distributors, adding advanced product, research, data and service solutions to its existing end-to-end wealth management platform, the firm said in a statement. 

Clients and distribution partners will benefit from broadened access and expertise to service alternative asset classes, as well as improving efficiencies across the wealth management value chain.

The acquisition of ifsam, which will add further scale to FNZ’s continental European operations in Luxembourg, follows a series of global acquisitions made by the firm recently. See examples here and here. The moves speak to a broader trend of M&A deals in the wealthtech space as companies battle for market share and attempt to build scale.

The deal - financial terms weren't disclosed - adds momentum to FNZ’s mission to deliver investment solutions to more people across the wealth management industry, it said.

Luxembourg
ifsam is a Luxembourg-based financial institution authorised by the Commission de Serveillance du Secteur Financier. With a team of subject matter experts, the company offers the execution of subscription and redemption processes and the custody of fund shares for all types of investment funds, including alternative fund products such as hedge funds, private equity and venture capital funds, the firm said.

Luc Duarte, managing partner at ifsam, will continue in his role, overseeing ifsam’s existing direct relationships with over 30 distributors and 300 major 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,” he continued.

“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,” he said.

Luc Duarte, ifsam managing partner, added: “We are thrilled to be joining FNZ. 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.”

Diao & Co. LLC acted as the exclusive financial advisor to FNZ on this transaction. NovitasFTCL advised ifsam and its shareholders on this transaction.