FE fundinfo acquires Nordic based FundConnect

FE fundinfo, a global fund data and technology leader, has acquired FundConnect, the Danish fund data and technology company.

The deal brings together FE fundinfo’s fund data and technology expertise in the UK, Europe & Asia with FundConnect’s complementary set of services. Similarly, the acquirer can benefit from FundConnect’s unique position in the Nordic fund industry.

Founded in Copenhagen in 2000, FundConnect collects and distributes fund data across Europe. It specialises in advanced data collection, data distribution, web solutions and fund document production (for marketing and regulatory purposes).

FundConnect, together with the Danish Investment Association jointly owns FundCollect, which serves the entire Danish mutual fund industry; both Danish fund groups and international funds operating in Denmark.

FundConnect has over 20 years’ experience serving as a data collection and technical backbone for banks, insurers and asset managers. It also supports a number of industry initiatives such as the European Fund Classification (EFC).

FE fundinfo’s mission is to connect and simplify the investment industry. Increasing efficiencies is therefore a key part of that and an ethos shared by the team at FundConnect.

The announcement follows a period of rapid growth for FE fundinfo. The acquisition of Lichtenstein based ESG specialists CSSP completed at the end of 2020. Meanwhile, significant hires into the FE fundinfo commercial teams in continental Europe throughout the first half of 2021.

Advising on the deal for FundConnect were EY, Horten and KPMG (financial assistance). Meanwhile, for FE fundinfo it was Accura, Baker McKenzie and Deloitte.

Carsten Mahler, CEO at FundConnect, said:

“We’re delighted to be joining the FE fundinfo family. We hope to play an active part the business’ vision to create a Pan-European fund data and technology champion. This transaction therefore enables us to offer a broader and deeper fund data universe to our clients. We continue to drive the agenda for standardisation and efficiency in the collection and distribution of fund data.

“Our expertise in data automation and technology solutions complement the offerings provided by FE fundinfo. Additionally, it allows us to support our global client base in streamlining their businesses and remaining compliant in an increasingly complex regulatory landscape.”

Hamish Purdey, Chief Executive at FE fundinfo, said: 

“The fund distribution landscape is becoming ever more global and the need for greater efficiencies for data exchange cross border is something FE fundinfo aims to facilitate through its leading fund data distribution services. We therefore share a similar philosophy with FundConnect in aiming to improve standardisation across the global fund data landscape and help our clients access and distribute their fund data and documents in a streamlined manner.

“We have been impressed with the key role FundConnect has played in improving fund data standards. Their approach to building innovative technology solutions helps to bring that data to life for the benefit of fund managers, fund distributors and investors. We are ecstatic to welcome them to the FE fundinfo family.”

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