Investments  

FE to be merged with international firms

FE to be merged with international firms

Private equity firm Hg Capital has acquired adviser software provider FE and is to merge it with two of its portfolio companies.

FE, F2C and Fundinfo are majority-owned by Hg, a private equity firm that specialises in the technology sector.

F2C is based in Luxembourg, while Fundinfo is focused on the European and Asian markets.

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The three firms will "fully integrate" into a single business, which will be led by Neil Bradford, who had been chief executive of FE.

The firm said its combined businesses have relationships with 800 asset management firms and 3,000 fund distributors.

Mr Bradford said: "Today marks the birth of a new international force in investment data. Our combination will create a larger network of asset manager and distributor data partners across Europe and beyond.  

"This will hugely benefit our clients by simplifying data flows, reducing complexity, improving transparency and communication and, ultimately, making investing easier. We look forward to announcing more details about our combined offering in early 2019."

Sebastien Briens, partner at Hg Capital, said: "This deal is a major step in creating a global player in the fund information industry. The entire industry is undergoing massive changes.  

"As well as evolving their own business models, asset managers and distributors also expect their partners to adapt to a new reality by offering more efficient, higher quality and integrated services along the full-service value chain.

"Bringing together these three leading players creates a business which can meet these requirements head on."

FE was founded in 1996 by Michael Holland and Craig Wilson. Since then it has grown significantly as a provider of investment data, software tools and performance analysis to financial advisers, asset managers and institutions.

Headquartered in London, the company has expanded internationally with operations in Hong Kong, India, the Czech Republic and Australia.

david.thorpe@ft.com