Montagu leads further investment in Universal Investment and agrees sale of minority stake to CPP Investments
TORONTO , Sept. 8, 2022 /CNW/ - Montagu, a leading private equity firm, is pleased to announce that it has agreed further investment in Universal Investment Group (Universal Investment) alongside Canada Pension Plan Investment Board (CPP Investments), who will acquire a significant stake through CPP Investment Board Europe Sarl. The strategic partnership of Montagu and CPP Investments is set to accelerate Universal Investment's growth trajectory and support its ambition of becoming a leading global fund services player. The transaction is subject to regulatory approvals.
Universal Investment is a leading third-party management company (ManCo) and fund administration service provider serving both institutional investors and asset managers, active across the three largest European fund markets: Germany, Ireland, and Luxembourg. The business has delivered resilient and consistent growth over the past 15 years, driven by structural tailwinds in its markets, a strong competitive positioning from dedication to its clients, and a commitment to operational excellence.
Michael Reinhard, CEO, Universal Investment said "Our development into one of the fastest growing European fund service platforms was a decisive factor for CPP Investments to invest. Backed by the great partnership with Montagu we have leveraged our full potential and have become one of the few players active in Germany, Ireland and Luxembourg, offering not only ManCo services but also fund administration and distribution services. We are delighted to welcome CPP Investments and with both investors by our side, we are excited to take on a more global perspective for the business."
Since Montagu's investment in 2017, Universal Investment has expanded its platform and added expert capabilities, launched new best-in-class service offerings, and internationalised the business. Today, Universal Investment is the market leading third-party ManCo in Germany and Luxembourg, serves over 470 clients across its core jurisdictions, and has around €760 billion in assets under administration with over 1,100 employees.
Daniel Fischer, Director at Montagu added "We are delighted to welcome CPP Investments to the Universal Investment team. Our relationship with Universal Investment started several years before we completed the acquisition in 2017, and we are pleased to be able to continue the partnership while delivering a strong return for our investors. Universal Investment has performed strongly over the last five years, delivering strong growth in Germany while accelerating its expansion in Luxembourg and entering a new strategic market in Ireland. We have every reason to believe the business will go from strength to strength as it continues to expand its offering across products, asset classes and jurisdictions."
Commenting for CPP Investments, Hafiz Lalani, Managing Director, and Head of European Direct Private Equity, said "Universal Investment is a business we've followed with keen interest for many years and we have been impressed by its exceptional and resilient growth trajectory and market leading position in the European ManCo and fund administration sector. Our relationship with management and Montagu enabled us to work together to deliver a targeted, bespoke capital solution across our investment capabilities and we look forward to supporting Universal Investment in the next stage of expansion. We are confident this will deliver long-term value for Universal Investment's customers and employees as well as CPP's contributors and beneficiaries."
Notes to editors:
Montagu is a leading mid-market private equity firm, committed to finding and growing businesses that make the world work. With deep experience in healthcare and the tech-enablement of essential businesses, Montagu brings proven growth capabilities to help companies achieve their ambitions and unlock the full potential of their business. Montagu is committed to the mid-market, with a specialist in carve-out transactions and other first-time buyout investments. ESG forms an integral part of its strategy, and its commitment to sustainable investment is fully integrated into its investment and value-creation process. Montagu partners with companies with enterprise values between €150 million and €2 billion and has €10bn assets under management.
For more information, please visit www.montagu.com
The Universal Investment Group (Universal Investment) is the leading European third party ManCo with a one-stop shop platform offering. Universal Investment has more than €760 billion in assets under administration, administers about 2,000 mutual and special fund mandates, and has more than 1,100 employees across Frankfurt am Main (Germany), Luxembourg, Dublin (Ireland), London (UK), Hamburg (Germany), and Krakow (Poland). Founded in 1968, Universal Investment is an independent platform for institutional investors and asset managers offering administration, structuring, and distribution solutions as well as risk management for securities, real estate, and alternatives. UI labs, UI Enlyte and CAPinside complement the group's platform with a dedicated technology services offering. Universal Investment is a signatory of the UN Principles of Responsible Investment.
For more information, please visit www.universal-investment.com
Canada Pension Plan Investment Board (CPP Investments™) is a professional investment management organization that manages the Fund in the best interest of the more than 21 million contributors and beneficiaries of the Canada Pension Plan. In order to build diversified portfolios of assets, investments are made around the world in public equities, private equities, real estate, infrastructure, and fixed income. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York City, San Francisco, São Paulo, and Sydney, CPP Investments is governed and managed independently of the Canada Pension Plan and at arm's length from governments. As per June 30, 2022, the Fund totalled C$523 billion.
For more information, please visit www.cppinvestments.com
SOURCE Canada Pension Plan Investment Board
Media enquiries: Greenbrook - Rob White and Tashi Lassalle, +44 20 7952 2000, [email protected]; CPP Investments - Steve McCool, +44 20 3947 3002, [email protected]
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