BlackFin Capital Partners has reported the sale of its portfolio company New Access, a Geneva-based private banking technology firm, to FNZ, a global wealth management platform with registered office in London.
The acquisted New Access is primarily active in the markets of Switzerland, Liechtenstein and Luxembourg. These markets are key to serving and administering client wealth globally and will support FNZ in delivering on its promise to open up wealth and serve the US$240 trillion global wealth market. This strategic acquisition represents a further investment by FNZ into the growing private banking and cross-border wealth sector after a number of customer successes and the acquisition of the Swiss tech innovator Appway in February 2022. With now more than 200 local FNZ employees, Switzerland will become a key private banking competence center driving the further expansion within this vertical.
Founded in 2009, BlackFin Capital Partners is an independent private equity firm led by nine partners who have worked together as managers and entrepreneurs in the financial industry for decades. The firm is focused on investing in financial services companies, fintechs and insurtechs and counts with €2.4bn assets under management.
Homburger has acted as transaction counsel to BlackFin Capital Partners in this deal. The team comprises partner Frank Gerhard, lead associate Sarah Chevalley, associates Estelle Piccard, Léonard Aeschlimann Perales, Isabelle Cordey (all corporate / m&a), partner Luca Dal Molin, associate Aliénor de Dardel (both IP/IT), as well as partner Stefan Oesterhelt (tax).
The terms of the deal have not been disclosed. Other advisors involved were Deloitte and FIG Corporate Finance Advisory which has acted as exclusive financial advisor to FNZ, while CMS has acted as legal advisor, in support of the transaction.