Singapore's sovereign wealth fund GIC and affiliates of private equity investor Hellman & Friedman have agreed to acquire mutual fund platform Allfunds Bank from Santander, Intesa Sanpaolo, Warburg Pincus and General Atlantic.

Allfunds offers technology based solutions to asset managers and mutual fund distributors. The firm has offices across Europe, Asia and Latin America and manages over €265bn in assets covering 51,000 funds from 541 fund managers.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Intesa agreed to offload its 50% stake in Allfunds for nearly €900m in cash, and said that the deal would generate a net capital gain of around €800m for the bank.

Santander agreed to sell its 25% in the platform for about €470m, and said that the sale would help it secure a net capital gain of about €300m.

Warburg Pincus and General Atlantic, which together own a 25% stake in Allfunds, did not disclose the terms of the sale on their side.

GIC Private Equity head of direct investments group in Europe Henry Ormond said: "As a long-term value investor, GIC is confident in Allfunds' scalable business model based on its leading European market platform, diversified customer base and long-term contracts. We believe the company, supported by our partnership with Hellman & Friedman, will grow to be the global market leader in the fund management industry."

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.

Allfunds CEO Juan Alcaraz said: "Hellman & Friedman's strong track record in building premier global financial services franchises and GIC's leading presence in Asia make them the perfect partners to support our future growth. Together with our new shareholders, we will invest in growing the business across the world, while continuing to support our clients in delivering the broadest available range of products to their customers."

The transaction, which is subject to regulatory approvals, values Allfunds at €1.8bn.