Allfunds will not have moved first. While the shareholders of the first European wholesaler of fund distribution are working on a proposed IPO or sale, its direct competitor Mfex is preparing to change hands. The central depository Euroclear, a European post-market giant (settlement-delivery and custody of securities), announced on Friday the acquisition of 100% of the Franco-Swedish group. Since 2018, it has been majority owned by the Nordic Capital fund, associated with the managers, and in particular the French co-founder Olivier Huby.
“We are already a very large player in the equity and bond market. We now want to be also on the funds “, declares to “Echoes” Lieve Mostrey, Managing Director of Euroclear. After years of waiting in terms of mergers and acquisitions, linked in particular to questions about its shareholders, the group is following in the footsteps of its major competitor Clearstream, which has already completed its range of services to asset managers, by buying 51 % of UBS’s fund distribution platform.