Nordic Capital buys MFEX, a platform for fund distribution in Europe and Asia.
The deal will be made through Nordic Capital Fund VIII “Nordic Capital”, which, together with the MFEX management, bought the majority of the shares in MFEX, aiming at the potential of supporting the acceleration of MFEX’s growth agenda across Europe and Asia and at the consolidation in the sector.
The financial details of the transaction remain undisclosed.
MFEX, founded in 1999 and led by co-CEOs Oliver Lagerström and Olivier Huby, is a leading B2B open architecture fund distribution platform with EUR 72 billion of assets under administration as of July 30, 2017. MFEX provides infrastructure for mutual fund distribution, facilitating access between fund companies and distributors. The Company is one of the largest independent fund platforms in Europe, connecting over 800 fund companies from 40 legal domiciles to over 100 distributors from 30 countries.
The company is headquartered in Stockholm, and has offices in Paris, Geneva, Singapore and Umeå.
Going forward, Nordic Capital will support MFEX’s continued growth by investing in the organisation and its product offering. The Company’s growth potential is underpinned by strong underlying market growth, accelerated by an increasing regulatory focus on transparency, and a shift towards open architecture platforms.
MFEX holds a strong market position, as evidenced by several notable contract signings with global financial institutions over the last few years, and is well positioned to benefit from the supportive tailwinds in the market.
As part of the transaction, Nordic Capital is injecting substantial equity into MFEX to position the Company as a natural consolidator of the fund platform industry in Europe and Asia.