Asset manager Candriam has purchased an undisclosed stake in investment platform Iznes to boost international growth of the fund distribution platform.

IZNES was launched in 2017 by a consortium of French asset management companies to serve asset managers and their clients.

Utilising blockchain technology, the platform enables firms to manage KYC processes, subscriptions and redemption instructions, settle transactions and record positions.

The addition of Candriam to its list of shareholders, is expected to extend the reach of IZNES to international markets.

The asset manager, which has been contributing to the project for over two years, said the move is part of its commitment to develop the platform in optimising transaction costs and processes in France and Luxembourg.

Candriam COO Fabrice Cuchet said the stake purchase in IZNES underscores the company’s determination to invest in cutting-edge technologies and new operational solutions that will benefit its clients.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Cuchet added: “We are also thrilled to contribute to the development of innovative solutions offered by IZNES and to support a French fintech with a promising international future.”

IZNES CEO Christophe Lepitre said that Candriam’s experience in portfolio management and international fund distribution will be invaluable to the development of the platform outside France.

Since its operational launch in March 2019, Iznes has completed nearly €20bn of transactions as on 30 April 2021.

In January this year, insurer Generali Vie and social protection group Groupe APICIL took equity stakes in the platform.

Last December, Candriam and its sister affiliate New York Life Investments Alternatives collaborated with Kartesia Management to expand its reach in private markets.

Earlier that year, the firm agreed to buy Rothschild & Co Asset Management’s €350m alternative multi-asset management unit.