Fund data specialist FE fundinfo, partly owned by the Luxembourg Stock Exchange, said it has reached an agreement with Euronext to acquire French fund data provider Funds360 for an undisclosed amount. The deal expands its geographical presence in Europe and Asia.
Funds360, founded in Paris in 2011 and part of Euronext since 2019, specialises in providing back offices and solution providers with data on investment funds, life insurance schemes, real estate investment vehicles as well as on equities, bonds and structured products.
“FE Fundinfo will take over the next phase of the journey, as they are a fast-growing and highly respected company in our industry,” Jean-Baptiste Sicard, founder and CEO of Funds360, said in a statement.
Second deal in a week
The acquisition is the second transaction in Luxembourg’s fund data industry in less than a week. On Tuesday, Euronext’s competitor Deutsche Börse announced it would take over Luxembourg fund data specialist Kneip.
FE fundinfo last month established a close partnership with the Luxembourg Stock Exchange which will allow it to take over Fundsquare, a leading fund registration and regulatory services provider in Luxembourg.
As part of that agreement, the Luxembourg Stock Exchange has become an investor in FE fundinfo.
Changing landscape
“The fund distribution landscape is becoming ever more global and the need for greater efficiencies in data exchange across borders is something FE fundinfo aims to facilitate through its leading fund data distribution services,” said Hamish Purdey, Chief Executive at FE fundinfo.
“We share a similar philosophy with Funds360 in making investment data accessible across the global fund data landscape to make investors better connected and better informed.”
According to a filing in the Luxembourg Business Register, FE fundinfo held total assets worth 11.2 million euro at the end of 2020, while documents filed by its competitor Kneip reported total assets of 30.1 million euro at the end of 2021.
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