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14-11-2023
Amundi and Indosuez Wealth Management acquire a stake in AirFund to promote the marketing of private asset funds
AirFund, a digital platform created in 2021 to facilitate the link between management companies and distributors of Private Markets funds with retail investors, has reached a new milestone in its development with a financing round of €6 million. This new round is jointly led by Amundi and Indosuez Wealth Management, who become minority cornerstone shareholders, and will participate in the company's governance and strategic committee.
This transaction will help market private asset funds managed by Amundi and Indosuez, and facilitate subscription and repurchase transactions in these funds. The investment is accompanied by the signing of three strategic partnerships.
AirFund and Amundi Alternative & Real Assets will join forces to expand their offerings. On the one hand, funds managed by Amundi will henceforth be accessible via AirFund, enabling the company to reach new customers and ultimately serve existing Amundi customers through new digital channels. On the other hand, Amundi's expertise will help AirFund to offer tailor-made real asset fund of funds and feeder fund vehicles, thus meeting demand from AirFund's clients, be they asset management companies or distributors.
By partnering with AirFund, Indosuez Wealth Management will digitalize the distribution of its Private Markets funds to its large private investors, the Crédit Agricole Group's network banks and its external distribution partners. This partnership is in line with Indosuez's development strategy to take the growth of its Private Markets business beyond €10 billion in assets under management by 2025. In addition, the AirFund platform will digitalize the distribution of deals by Indosuez's real estate business line.
The B2B distribution platform Fund Channel (a joint venture between Amundi and CACEIS) will leverage AirFund to broaden the range of funds offered to its distributor clients by including private asset funds. This innovative digital solution for automating private asset fund flows will facilitate access to this asset class for distributors, enabling them to meet their own customers' expectations.
In addition to continuing to invest heavily in R&D, this round of financing will enable AirFund to accelerate its organic growth by strengthening its teams, and to develop new growth drivers with an expansion plan in Switzerland, Germany, Benelux, the UK, Spain and Italy. It will also enable AirFund to consolidate its position across the entire distribution value chain, and reinforce its ambition to become Europe's leading player in the democratization of private equity funds. AirFund already provides access to 40 private equity funds and over 1,000 partner distributors.
Alexandre Harkous, Chairman and founder of AirFund, OneWealthPlace Group, declares: "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."
Nicolas Calcoen, Deputy CEO and Head of Strategy, Finance and Control at Amundi, declares, "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 Alternative & Real assets platform, by making our products more accessible through the digitization of the customer journey among institutional and retail investors."
Nicolas Renauld, Global Head of Private Markets at Indosuez, declares: "With an investment platform that has been recognized by the market for over 20 years, and assets under management of more than €7.5 billion, this partnership is part of Indosuez's strategy to accelerate its presence in private markets. Digitalization is an essential element in improving the experience of our investors and partners.”
Founded at the end of 2017, by Alexandre Harkous, Yann Charraire, Sébastien Liévain and Cédric Hauber, French Fintech Studio, OneWealthPlace, has developed several solutions (notably AirWealth and AirfFund) and has since acquired Horizons Software's Asset Management division and digital company SILK AM.
Joined by Xavier Chaudé, Frédéric Ledinahet and Yann Kastelnik, the management of OneWealthPlace decided at the end of 2021 to consolidate all its solutions within the AirFund platform, thus becoming pioneers digital platforms for the distribution of private asset funds in France, leveraging their innovative technology, complete value chain, and efficient service.
Based in France, with European ambitions, AirFund currently employs 26 people in Paris, and aims to double in size by 2024, to become the leading distribution platform in Europe by 2027.
More information on : AirFund.io, Twitter, LinkedIn
Amundi, the leading European asset manager, ranking among the top 10 global players[1], offers its 100 million clients - retail, institutional and corporate - a complete range of savings and investment solutions in active and passive management, in traditional or real assets. This offering is enhanced with IT tools and services to cover the entire savings value chain. A subsidiary of the Crédit Agricole group and listed on the stock exchange, Amundi currently manages more than €1.95 trillion of assets[2].
With its six international investment hubs[3], financial and extra-financial research capabilities and long-standing commitment to responsible investment, Amundi is a key player in the asset management landscape.
Amundi clients benefit from the expertise and advice of 5,400 employees in 35 countries.
Amundi, a trusted partner, working every day in the interest of its clients and society
- ^ [1] Source: IPE “Top 500 Asset Managers” published in June 2023, based on assets under management as at 31/12/2022
- ^ [2] Amundi data as at 30/09/2023
- ^ [3] Boston, Dublin, London, Milan, Paris and Tokyo
Fund Channel is a B2B fund distribution platform operating in Europe and Asia. Since 2005, Fund Channel has been offering an all-in-one solution with innovative services to facilitate fund distribution, enhance transparency and improve processes for fund managers and distributors to strengthen their relationships with clients, partners and regulators.
Fund Channel has over 382 billion euros in assets under intermediation, and offers a "one-stop-shop" solution on behalf of 600 fund management companies and over 100 fund distributors.
A joint subsidiary of Amundi and CACEIS, Fund Channel is headquartered in Luxembourg, with offices in Italy, Singapore and Switzerland.
Indosuez Wealth Management is the global wealth management brand of the Crédit Agricole Group, the world's 10th largest bank by balance sheet (The Banker 2022).
Shaped by more than 145 years of experience in accompanying families and entrepreneurs from all over the world, Indosuez Wealth Management offers a tailor-made approach enabling each of its customers to preserve and develop their wealth in line with their aspirations. Endowed with a global vision, its teams provide expert advice and exceptional service across one of the broadest spectrums in the business, for both private and professional wealth management.
Distinguished for its human and resolutely international dimension, Indosuez Wealth Management employs nearly 3,000 people in 11 territories worldwide: in Europe (Belgium, Spain, France, Italy, Luxembourg, Monaco and Switzerland), Asia-Pacific (Hong Kong SAR, New Caledonia and Singapore) and the Middle East (United Arab Emirates).
With 130 billion euros in assets under management (as at 31/12/2022), Indosuez Wealth Management is one of the world's leading wealth management companies.
Press release Air Fund Final.pdf
13-11-2023
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