iM Global Partner enters a new phase in its development, welcoming two new investors, IK Investment Partners and Luxempart, alongside Eurazeo and Amundi
Eurazeo has sold part of its stake in iM Global Partner to IK Investment Partners and Luxempart, subject to the approval of the French Autorité des Marchés Financiers and the Commission de Surveillance du Secteur Financier.
This comes after iM Global Partner, a global network dedicated to asset management, increased its assets under management by 65% – of which 46% was organic growth – to more than $19bn in the year to end December 2020. With the support of Eurazeo and Amundi, which have supported Philippe Couvrecelle and the management team since the Company’s inception, iM Global Partner has become a major international asset management network in just a few years.
The addition of IK Investment Partners and Luxempart as shareholders marks an important step in the development of the Company. Their support strengthens iM Global Partner’s development potential and will accelerate its growth for years to come. iM Global Partner’s strategy is to continue to invest, both organically and through external growth, to further develop the Company with the aim of exceeding $100bn in assets under management within five to seven years.
Following the transaction, Eurazeo, as a controlling shareholder, will continue to actively support the Company alongside shareholders IK Investment Partners, Luxempart and Amundi. Proceeds from the disposals relating to this transaction of 20% of the capital represent about €70m for Eurazeo – a cash-on-cash multiple of 2.1x and an internal rate of return of 22%. Dassault/La Maison, a shareholder from the outset, is selling its stake at the time of this transaction.
Philippe Couvrecelle, CEO and founder of iM Global Partner, states: “We are pleased to welcome IK Investment Partners and Luxempart alongside Eurazeo and Amundi, which have been accompanying and supporting us since the beginning of this great adventure. Together, we will continue to develop our unique asset management model and further accelerate the growth of our activities worldwide.”
Marc Frappier, Managing Partner of Eurazeo and Head of Eurazeo Capital, says: “Our strong belief in the growth of the asset management profession, coupled with the talent and the vision of Philippe Couvrecelle, led us to support the development of an innovative network bringing together the best managers worldwide and leading distribution capacities.”
Thomas Grob, Partner at IK Investment Partners and advisor to the IK Partnership Fund, adds: “We were impressed by the growth trajectory, quality of the teams, international nature and development project of iM Global Partner. We are pleased and proud to have won the trust of Philippe Couvrecelle, Eurazeo and Amundi to join them in contributing to the Company’s growth story.”
Olaf Kordes, Managing Director of Luxempart, says: “We are very pleased to be able to join the group of iM Global Partner’s shareholders. We have been convinced by the quality and vision of the management team. We are very keen to continue supporting the development of this leading player with significant international ambitions. This operation is perfectly in line with Luxempart’s revised strategy, which aims to support first-rate management teams in their development projects over the long term.”
For further questions, please contact:
IK Investment Partners
Phone: +44 (0) 7584 142 665
iM Global Partner
Phone: +44 (0) 203 995 6678
Phone: +44 (0)7990 595 913
Phone: +352 691 306 540
About IK Investment Partners
About iM Global Partner
iM Global Partner is present in 11 locations across Europe and the United States and provides its clients with access to the best management strategies of its Partners. iM Global Partner’s wide range of investment solutions thus includes the OYSTER range, a Luxembourg SICAV, but also Mutual Funds and ETFs dedicated to US investors.
iM Global Partner represents over 19 billion USD of assets under management as at December 2020.
Eurazeo has offices in Paris, New York, Sao Paulo, Seoul, Shanghai, Singapore, London, Luxembourg, Frankfurt, Berlin and Madrid.
Eurazeo is listed on Euronext Paris.
With its six international investment hubs, financial and extra-financial research capabilities and long-standing commitment to responsible investment, Amundi is a key player in the asset management landscape.
Amundi clients benefit from the expertise and advice of 4,700 employees in more than 35 countries. A subsidiary of the Crédit Agricole group and listed on the stock exchange, Amundi currently manages more than €1.700 trillion of assets.
Amundi, a trusted partner, working every day in the interest of its clients and society.