23 December 2020
Link Group and Banor Capital today jointly announce the signing of an agreement for the acquisition of Casa4Funds by Link Group from Banor Capital. Completion of the transaction is subject to regulatory approvals.
- Acquisition will broaden Link Group’s Fund Solutions Management Company capability across European markets with significant potential for growth
- Transaction expected to be completed in the first half of 2021
- Once completed, Link Fund Solutions will have approximately €3 billion of Assets Under Management (AuM) in Luxembourg and €100 billion (AuM) across Europe
Casa4Funds is one of the oldest European independent third-party UCITS Management Companies and Alternative Investment Fund Managers (AIFM), headquartered in Luxembourg.
The acquisition will provide additional scale for Link Fund Solutions in Luxembourg, Europe’s largest investment fund center. It will also provide access to Casa4Funds’ extensive experience in a wide range of traditional and alternative asset classes including private equity, real estate and debt.
Link Group will leverage the combined strengths, experience and capabilities of its existing Fund Solutions Luxembourg operation and that of Casa4Funds to deliver market-leading services for fund managers and financial institutions from across the globe.
The acquisition is subject to regulatory approvals by Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF) and is expected to be completed in the first half of 2021. The combined Fund Solutions businesses will have approximately €3 billion of Assets Under Management (AuM) in Luxembourg and €100 billion (AuM) across Europe.
Jean-Luc Neyens, Managing Director, Fund Solutions Luxembourg, Link Group commented: “The acquisition of Casa4Funds is a natural step in our vision to become Europe’s leading third-party independent ManCo/Authorised Fund Manager. It deepens our expertise across alternative asset classes, broadens our Luxembourg footprint and enhances our support for clients across all of Europe’s main fund centres. This is a very exciting opportunity for Link Fund Solutions, Casa4Funds and our collective teams and clients.”
Giacomo Mergoni, CEO of Banor Capital Ltd said: “We are happy to entrust Casa4Funds to Link Group, a global leader with the resources and skills necessary to give the customers and the team of Casa4Funds even greater opportunities for a successful future. We have worked with Casa4Funds for more than 10 years and will continue to do so in the future. During this time we have had the opportunity to appreciate their intense focus on quality and client service. We are confident that Link Group will be able to further build and enhance this talented business.”
Arnaud Bouteiller, Partner and General Manager of Casa4Funds adds: “Over the last decade, Banor Capital has been a strong, supportive partner. While we are delighted to continue to be working with them, joining Link group, a leading European third-party independent ManCo/Authorised Fund Manager, is a great opportunity to further expand our footprint. We are thrilled to bring our SuperManCo to the next level, as part of Link Group.”
The sellers were assisted by Deloitte Luxembourg (M&A Advisor) and Grimaldi Studio Legale (Legal Advisor) for this transaction. Link Group was assisted by Arendt & Medernach (Legal Advisor & Regulatory Due Diligence), PwC UK (Financial Due Diligence) and PwC Luxembourg (Tax Due Diligence) for this transaction.