FNZ raises $450m in equity from existing institutional shareholders
The wealth-platform provider will invest in technology, people and products as it continues a long-term transformation and growth programme.
Technology and operations behind wealth accounts
FNZ supplies banks, wealth managers, insurers and asset managers with a platform that connects investor and adviser interfaces to account administration, portfolio tools, reporting and investment operations. Financial institutions can offer investment services through their own channels while relying on a shared technology and operations layer behind them.
The company raised $450 million in equity from existing institutional shareholders La Caisse, Canada Pension Plan Investment Board, Generation Investment Management and Motive Partners. FNZ says the capital will support investment in technology, people and products; its platform already serves nearly 30 million end customers and holds more than $2.5 trillion in assets.
Use of funds
Invest in technology, people and products