The AirFund transaction will help market private asset funds managed by Amundi and Indosuez, as well as aid subscription and repurchase transactions in these funds.
Furthermore, the funding will allow AirFund to accelerate its organic growth by strengthening its teams and developing new growth drivers with a plan to expand in Switzerland, Germany, Benelux, the UK, Spain, and Italy.
The overall goal is to become Europe’s leading player in the democratisation of private equity funds and AirFund currently provides access to 40 private equity funds and over 1,000 partner distributors.
Amundi and Indosuez deciding strategy
In addition, the investment moves alongside the signing of three strategic partnerships.
AirFund and Amundi Alternative & Real Assets will join forces to expand their offerings. Funds managed by Amundi will be accessible via AirFun, enabling the company to reach new customers and serve existing customers through digital channels.
Indosuez partnering with AirFund will digitalise the distribution of its private markets funds to its large private investors, including with the Credit Agricole Group’s network banks. This partnership is in line with Indosuez’s development strategy to take the growth of its Private Markets business beyond €10bn in assets under management by 2025.
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Also, the B2B distribution service Fund Channel (a joint venture between Amundi and CACEIS) will utilise AirFund to broaden the range of funds offered to its distributor clients by including private asset funds.
Alexandre Harkous, chairman and founder of AirFund, OneWealthPlace Group, said: “Having Amundi and Indosuez Wealth Management as shareholders is a real asset. This operation strengthens AirFund’s position in its market and enables it to become a major player in the distribution of private asset funds in Europe, in partnership with Amundi, Fund Channel, and Indosuez. The arrival of these two renowned investors will enable us to double our workforce in France and Europe, to better support our customers and partners, accelerate our growth and diversify our recurring revenues. This fund-raising is a very good gas pedal for the ecosystem of private asset product distribution.”
Nicolas Calcoen, deputy CEO and head of strategy, finance and control at Amundi, added: “In line with our strategic plan, this new partnership with the AirFund platform will enable Fund Channel to expand its service offering to private assets. It will also be an asset for the Amundi Alternative & Real assets platform, by making our products more accessible through the digitisation of the customer journey among institutional and retail investors.”
Nicolas Renauld, global head of private markets at Indosuez, commented: “With an investment platform that has been recognised by the market for over 20 years, and assets under management of more than €7.5bn, this partnership is part of Indosuez’s strategy to accelerate its presence in private markets. Digitalisation is an essential element in improving the experience of our investors and partners.”