Freshfields advises Allfunds Bank on its combination with Credit Suisse InvestLab
Freshfields Bruckhaus Deringer LLP (‘Freshfields’) has advised Allfunds Bank, S.A. (‘Allfunds’), a portfolio company of Hellman & Friedman and GIC, on its agreement to acquire Credit Suisse’s open architecture investment fund activities, Credit Suisse InvestLab. The transaction is subject to customary closing conditions.
With over €500 billion in assets under management, the combined business will distribute over 78,000 funds and ETFs to more than 700 distributors across 45 countries, and will become a leader in fund distribution and wealth platform technology.
The transaction was led by London partners Tim Wilmot, Keir MacLennan and Cyrus Pocha, as well as David Franco in Madrid; with assistance from partners Jill Gatehouse and Martin McElwee in London.
Freshfields also advised Hellman & Friedman and GIC on the original acquisition of Allfunds from Intesa Sanpaolo Group, Santander Group, General Atlantic and Warbug Pincus, a transaction which completed in 2017.
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