Advent agrees to acquire FNZ Bank in Germany

Advent and a consortium including HarbourVest Partners have agreed to acquire FNZ Bank, a German wealth management banking and infrastructure provider with EUR 155 billion ($179 billion) in assets under custody, as the investors target its next phase of growth.

FNZ Bank is a leading independent wealth management banking and infrastructure provider in Germany, focused on banking, custody, transaction execution and regulatory services. It connects more than 50,000 financial advisors, 200 asset managers and over 400 distribution partners, serving more than 2.1 million end-customers, with EUR 155 billion ($179 billion)in assets under custody.

Germany’s ageing population and widening retirement savings gap are making private retirement provision increasingly important. FNZ Bank provides the critical infrastructure that enables financial advisers and institutions to help households accumulate wealth for the long term. Advent is convinced these structural trends provide a strong foundation for growth and will support FNZ Bank in broadening access to capital market investing across Germany.

FNZ and FNZ Bank intend to continue their long-standing commercial partnership following completion of the transaction, leveraging FNZ’s technology capabilities to support the bank’s continued growth and client offering in Germany. FNZ will continue to serve the German market as a leading provider of enterprise wealth management platform technology.

Ranjan Sen, managing partner at Advent, said: “We are grateful for the trust that Blythe Masters, Group CEO of FNZ, and the wider FNZ team have placed in us as we acquire FNZ Bank in Germany. FNZ Bank is a cornerstone of Germany’s wealth management ecosystem, with a leading market position, well positioned to potentially benefit from the structural growth in long-term savings and investing. We look forward to partnering with the FNZ Bank leadership team, and will bring our investment experience in financial services to support the expansion of FNZ Bank’s infrastructure platform and its next phase of profitable growth.”

Advent has deep experience in wealth management and regulated financial institutions. Current and prior investments include wealth manager Fisher Investments, as well as European banks Aareal Bank, tbi bank and Addiko Bank. Alfred Dersidan, director at Advent, said: “As a long-term investor in regulated financial institutions across Europe, with more than a decade of experience working closely with the ECB, BaFin and national supervisors, we understand the responsibility that comes with owning a bank. We are committed to being a long-term, reliable owner, helping support FNZ Bank’s customers, partners, employees and regulators.”

Manuel Loos, CEO at FNZ Bank, said: “FNZ Bank has a strong market position, talented people and long-standing partner relationships. In Advent and the consortium, we have found long-term investors with deep experience in regulated financial services and a strong commitment to Germany. We look forward to continuing to serve our customers and partners with the quality and reliability they expect as we enter the bank’s next chapter.”

Blythe Masters, group chief executive officer, FNZ said: “FNZ Bank has built a strong position serving advisers, asset managers and investors in Germany, and we believe the business will continue to thrive under its new ownership. This transaction supports FNZ’s sharper focus on its core platform, providing wealth management technology to leading financial institutions. We look forward to continuing our relationship with FNZ Bank following completion, leveraging FNZ’s technology capabilities to support innovation and growth in the German market.”

The transaction is expected to complete in the second half of 2027, subject to customary regulatory and other approvals.

Re-disseminated by Wealth and Society