Allfunds partners with Goldman Sachs and Citigroup to strategise sale amid gauging takeover interest
The fund distribution platform is looking at Civen, CVC Capital Partners and Permira as potential suitors, according to a report.
Allfunds is in the early stages of approaching buyout firms, according to a Bloomberg report on Thursday.
The fund distribution platform is looking at Civen, CVC Capital Partners and Permira as potential suitors. KKR & Co and Warburg Pincus are also reportedly in the running.
Bloomberg said that Allfunds is working with advisers at Goldman Sachs and Citigroup on a strategic view that could lead to a sale. The sources said deliberations were at an early stage, however, and that there could be no certainty of a transaction.
The potential buyer would need to win the support of French lender BNP Paribas and US private equity firm Hellman and Freidman which own a combined 46 per cent stake in the group.
Allfunds has a market capitalisation of €3.63bn.
Earlier this year, Euronext, Europe’s largest stock exchange, made a €5.5 billion offer for the firm but later dropped its pursuit. Allfunds had also attracted takeover interest from German stock exchange operator Deutsche Boerse back in 2020.
