Euroclear has announced that its acquisition of global digital fund distribution platform MFEX Group from Nordic Capital, originally agreed in March this year, has been completed.
Financial terms of the transaction have not been disclosed.
The deal will see MFEX’s distribution platform combine with Euroclear’s FundSettle post-trade expertise with an aim to create a revised offering for fund distributors and fund management companies globally.
Headquartered in Stockholm and established in 1999, MFEX Group supports fund companies and distributors.
Since 2017, MFEX has quadrupled its assets under administration to over €320 billion across over 350 institutional clients that use the platform to access 80,000 funds from over 960 fund companies.
Through the acquisition, MFEX brings its broad fund distribution network and talent which will complement Euroclear, enhancing and extending Euroclear’s customer proposition and further growing its funds business.
“We are delighted to have completed the acquisition of MFEX Group. This transaction brings together two highly complementary businesses and we look forward to working with our new colleagues at MFEX to build a stronger fund distribution proposition for our clients,” said Lieve Mostrey, chief executive officer at Euroclear.
Earlier this month it was announced that Guillaume Eliet would replace Brigitte Daurelle as CEO of Euroclear’s ESES CSDs which includes its units in France, Belgium and the Netherlands.
Daurelle will now oversee the integration of MFEX, following the completion of its acquisition by Euroclear.