Belgium-based securities clearing firm Euroclear has announced expanding its offering with the acquisition of digital fund distribution platform MFEX Group with majority shareholder Nordic Capital.
The acquisition agreement is for an undisclosed sum and is expected to close in the second half of 2021.
MFEX Group’s headquarters are located in Stockholm. Founded in 1999, the company now has more than 300 employees internationally.
MFEX Group offers a complete solution for fund companies and distributors. Its assets under administration are EUR 320 billion. The company handles 350 institutional clients.
MFEX Group and Euroclear’s businesses compliment each other. Through the acquisition, Euroclear aims to create an efficient mechanism to access a broad network of end investors in a fragmented marketplace.
We are delighted to sign this agreement to acquire MFEX Group. We expect MFEX’s broad fund distribution network, along with its talented people, to be very complementary to Euroclear as we continue to enhance our exceptional service, extend our customer proposition and grow our business.
Jean Devambez, Chief Executive Officer, MFEX Group said:
Over the past years, we have together with Nordic Capital invested in our platform and continued to transform the fund distribution proposition. Euroclear is a great strategic fit for the next stage of our journey. By adding our respective strengths, we will be able to build an even better and stronger solution for fund distribution.
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