Freshfields advises Allfunds on its strategic partnership with BNP Paribas
Freshfields Bruckhaus Deringer LLP (‘Freshfields’) has advised Allfunds, a leader in wealth technology, on its agreement with BNP Paribas to create one of the world’s foremost fund and wealthtech platforms. This agreement will enable Allfunds and BNP Paribas, a leading global custodian and fund services provider, to build on each other’s expertise to develop next-generation fund distribution services.
The partnership will see BNP Paribas Securities Services and BNP Paribas Asset Management receive together a strategic stake of 22.5 per cent in Allfunds, with majority ownership held by Hellman & Friedman and GIC.
As a result of this transaction, which is subject to regulatory approvals and any required consultations and which is expected to close before the end of 2020, Allfunds will open new offices in Paris and Warsaw. This strategic deal also adds to Allfunds’ recent Credit Suisse InvestLab transaction and falls under Allfunds’ strategy to become one of the most prominent fund platforms across this industry, boosted by its technological edge and global ambition.
The cross-border and cross-practice Freshfields team was led by partners Tim Wilmot and Keir MacLennan, who were supported by financial regulatory partner Cyrus Pocha, partner David Franco who advised on corporate matters, partner Richard Lister who advised on IP matters, antitrust and competition partner Martin McElwee, and tax partner Jill Gatehouse.
Freshfields previously advised Hellman & Friedman and GIC on the €1.8bn acquisition of Allfunds and advised Allfunds earlier this year on its combination with Credit Suisse InvestLab.
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