Shard Capital has agreed to buy a 50% stake in the Dublin-based investment platform Omnium, which caters to Irish financial advisers.
The transaction, whose financial terms were not disclosed, is subject to regulatory approval of the Central Bank of Ireland.
The deal marks London-headquartered Shard Capital’s entry into the Irish market.
It will help the firm enter new markets with a regulated entity to support its expansion within Ireland and the European Union.
Shard Capital CEO Toby Raincock said: “Shard Capital and Omnium are both client-focussed, solutions-led businesses and our combined entrepreneurial spirit and agility will ensure we are well-placed to create innovative solutions for clients.
“Shard and Omnium’s partnership represents a fantastic opportunity for expansion for both organisations and provides us with the ideal platform to expand our offering across both Ireland and the EU27.”
Omnium, which aggregates multiple asset classes on its platform, offers straight-through processing and digital signatures to investors.
The platform utilises data aggregation and automation capabilities to offer efficiencies for investment managers.
Shard Capital’s investment will be used by Omnium to drive its growth trajectory and take advantage of the growing demand for its digital platform.
Omnium Investment Platform CEO Christopher Ovenden said: “By working with Shard Capital, we will be able to accelerate our enhanced offering to clients in Ireland and the EU, as well as extend the range of services we provide.
“Shard’s stellar reputation for excellence in client servicing fits in with our own commitment to providing the highest quality of service, and with access to their experienced, market-leading team, Omnium is ideally placed to accelerate our ambitious growth plans in the near future.”
Earlier this week, JTC agreed to buy Dublin-headquartered boutique asset manager Ballybunion Capital to strengthen its fund services footprint in Ireland.