FE fundinfo is building out its operation in Luxembourg with the acquisition of Fundsquare, a wholly owned subsidiary of the Luxembourg Stock Exchange (LuxSE), for an undisclosed sum.
Fundsquare provides fund registration and regulatory reporting services to global asset managers and fund industry service providers.
It was established in 2013 to facilitate cross-border fund distribution through the collection and distribution of high-quality data and information in a cost-effective manner.
As part of the agreement, LuxSE will become an investor in FE fundinfo.
Fundsquare will build on FE fundinfo’s established and growing operation in Luxembourg, which supports the publiFund platform, a centralised platform for data and documents that connects the whole ecosystem of a fund and allows global fund managers to manage the running of the fund throughout its lifecycle.
As part of the acquisition, FE fundinfo will establish a Centre of Excellence for regulatory reporting, based in Luxembourg. The acquisition further provides an opportunity for LuxSE and FE fundinfo to explore joint opportunities in ESG-related products and services, leveraging LuxSE’s experience in this domain and FE fundinfo’s own ESG capabilities from its CSSP acquisition.
Meet the needs of the entire investment management value chain
Hamish Purdey (pictured), chief executive of FE fundinfo said: “By combining our services, the scope for greater efficiencies and product innovation will dramatically increase and the industry will benefit greatly from the enhanced product and service integration. Luxembourg will house our centre of excellence for regulatory reporting with comprehensive coverage of key European fund jurisdictions.
“We look forward to working together to enhance our services to meet the needs of the entire investment management value chain, including fund managers, distributors, fund service providers, regulators and investors.”
Julie Becker, chief executive of LuxSE, added: “Fundsquare is a highly successful company, and we are extremely proud of what the team has achieved so far. To continue to support Fundsquare’s future growth and especially its international expansion, we decided to team up with a strong player able to provide the necessary resources, competences and network.
“We have found the best partner in FE fundinfo and we are confident that this new ownership structure will bring the Fundsquare team many new opportunities for innovation, growth and scale in a rapidly changing environment. The Luxembourg Stock Exchange will remain involved through its stake in the FE fundinfo group, and we are delighted to form an active part in the company’s ambitious growth journey, both in Luxembourg and beyond.”
