- Fundsaccess is a SaaS technology provider for independent financial advisors
- Pollen Street is a private capital asset manager that manages around £4.2bn in assets
- FundHero is a Luxembourg-based risk management service provider
Pollen Street Capital has agreed to provide capital to support the merger of Niiio Finance Group (NFG), Fundsaccess, MiFID-Recorder (MR) and FundHero, to create a new consolidator in the European wealth and asset management software market.
Pollen Street will also provide additional capital to support further acquisitions in the future as the group seeks to consolidate a fragmented market of software vendors in the DACH region and across Europe, according to a release.
Majority of investors in NFG, including the senior management team, have agreed to contribute their shares to the group holding company Neptune TopCo as part of the transaction. There are also plans to de-list NFG in due course, the release added.
Fundsaccess, MR and FundHero’s key shareholders will continue to hold stakes in the group.
The deal is expected to be completed before the end of 2023, subject to regulatory approvals.
Pollen Street is a private capital asset manager that manages around £4.2 billion ($5.1 billion; €4.8 billion) in assets. It has offices in London and New York.
NFG is a cloud-based SaaS service provider for asset and wealth managers. It is based in Görlitz, Germany.
Fundsaccess is a SaaS technology provider for independent financial advisors and is headquartered in Munich.
Munich-based MR is a taping service provider for the financial services industry.
FundHero is a Luxembourg-based risk management service provider for institutional asset managers.
No financial details of the transaction were disclosed.