FNZ gets new shareholder
Tuesday, February 11th 2020, 4:19PM
Singapore-based investment company Temasek has become a sharesholder in platform business FNZ.
Temasek is an investment company with a net portfolio value of S$313 billion (£206 billion) as at 31 March 2019.
FNZ, which specialises in wealth management technology and serves many of the world’s largest financial services companies, will benefit in particular from Temasek’s significant presence and experience in Asia as it looks to grow its business in the region over the coming years.
Temasek joins existing investors Caisse de dépôt et placement du Québec (CDPQ) and Generation Investment Management LLP (Generation), who acquired a majority stake in FNZ in October 2018, in a deal that valued the company at nearly £1.7 billion.
This was the first investment from the CDPQ-Generation partnership, who came together to make large-scale, long-term sustainable investments.
FNZ is responsible for more than £400 billion in assets under administration held by 8 million customers of some of the world’s largest financial institutions, including Aviva, Barclays, BNZ, Findex, Generali, Lloyds Banking Group, National Australia Bank, Quilter, Santander, Standard Life Aberdeen, Swedbank, UBS, UOB, Vanguard and Zurich.
In total, FNZ partners with over 60 financial institutions globally and employs over 2,500 in Australia, China, Czech Republic, Germany, New Zealand, Singapore, the Nordics and the United Kingdom.
Temasek says its ethos is "to do well, do right and do good".
"Our investment philosophy is anchored around four key themes:
- Transforming Economies
- Growing Middle Income Populations
- Deepening Comparative Advantages
- Emerging Champions."
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