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September 9, 2019

Allfunds completes purchase of Credit Suisse’s InvestLab funds platform

Spanish wealth tech firm Allfunds Group has completed the purchase of Credit Suisse’s InvestLab business-to-business investment fund platform.

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The companies first announced the deal in June this year to reap the benefits of scale.

While announcing the agreement, Credit Suisse stated that the combination of InvestLab with Allfunds would lead to the creation of a global fund distribution platform with assets under administration of more than CHF570bn ($576.92bn).

The combination is expected to offer over 78,000 funds and ETFs to financial institutions across 45 countries, according to Allfunds.

The closing of the transfer of InvestLab also includes the transfer of the platform’s 24 employees and service agreements.

With the completion of what is the first step of the combination transaction, the companies will now focus on the completion of the transfer of the related distribution agreements by the first quarter of 2020.

Credit Suisse will have up to 18% stake in the combined business. The deal also gives the company right to nominate a member of its choice to the board of directors.

The Swiss bank will use the combined business to distribute mutual funds and ETFs.

For Allfunds, the transaction means an opportunity to accelerate its investment in the development of new services to cater to the needs of asset managers and fund distributors.

The combination is also part of the company’s strategy to pursue global expansion.

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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