Amundi, a leading asset manager, and Indosuez Wealth Management, a prominent wealth management firm, have acquired a minority stake in AirFund.
Established in 2021, AirFund is an innovative digital platform designed to bridge the gap between managers and distributors of Private Markets funds and retail investors. This strategic move involves a €6m investment and marks a significant leap in the marketing of private asset funds.
The deal will help market private asset funds managed by Amundi and Indosuez and facilitate subscription and repurchase transactions in these funds. The investment is also accompanied by the signing of three strategic partnerships.
Amundi, known for its comprehensive range of funds and asset management services, will now have its funds accessible via AirFund. This partnership will not only introduce Amundi’s offerings to new customers but also serve existing clients through advanced digital channels. Additionally, Amundi’s expertise will be instrumental in creating customized real asset fund of funds and feeder fund vehicles for AirFund’s clientele.
Indosuez Wealth Management aims to digitalize the distribution of its Private Markets funds to its extensive network of private investors, including the Crédit Agricole Group’s banks and external partners. This aligns with Indosuez’s goal to grow its Private Markets business to over €10bn in assets under management by 2025. The AirFund platform will also digitalize Indosuez’s real estate business line’s deal distribution.
Fund Channel, a joint venture between Amundi and CACEIS, will utilize AirFund to expand its fund offerings to distributor clients. This innovative digital solution aims to automate private asset fund flows, making this asset class more accessible and meeting customer expectations.
The financing will empower AirFund to boost its organic growth, expand its team, and develop new growth avenues in key European markets. Additionally, it will solidify AirFund’s position in the distribution value chain and reinforce its ambition to become Europe’s top player in democratizing private equity funds. AirFund already boasts access to 40 private equity funds and over 1,000 partner distributors.
AirFund Chairman and founder, Alexandre Harkous said, “Having Amundi and Indosuez Wealth Management as shareholders is a real asset. This operation strengthens AirFund’s position in its market and enables it to become a major player in the distribution of private asset funds in Europe, in partnership with Amundi, Fund Channel, and Indosuez. The arrival of these two renowned investors will enable us to double our workforce in France and Europe, to better support our customers and partners, accelerate our growth and diversify our recurring revenues. This fund-raising is a very good gas pedal for the ecosystem of private asset product distribution.”
Amundi Deputy CEO and Head of Strategy, Finance and Control, Nicolas Calcoen declared, “In line with our strategic plan, this new partnership with the AirFund platform will enable Fund Channel to expand its service offering to private assets. It will also be an asset for the Amundi Real & Alternative platform, by making our products more accessible through the digitization of the customer journey among institutional and retail investors.”
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