Allfunds partners with Goldman Sachs and Citigroup to strategise sale amid gauging takeover interest
Allfunds is in the early stages of approaching buyout firms, according to a Bloomberg report on Thursday.
The fund distribution platform is looking at Civen, CVC Capital Partners and Permira as potential suitors. KKR & Co and Warburg Pincus are also reportedly in the running.
Bloomberg said that Allfunds is working with advisers at Goldman Sachs and Citigroup on a strategic view that could lead to a sale. The sources said deliberations were at an early stage, however, and that there could be no certainty of a transaction.
The potential buyer would need to win the support of French lender BNP Paribas and US private equity firm Hellman and Freidman which own a combined 46 per cent stake in the group.
Allfunds has a market capitalisation of €3.63bn.
Earlier this year, Euronext, Europe’s largest stock exchange, made a €5.5 billion offer for the firm but later dropped its pursuit. Allfunds had also attracted takeover interest from German stock exchange operator Deutsche Boerse back in 2020.