11 October 2018
La Caisse de dépôt et placement du Québec (CDPQ) and Generation Investment Management LLP (Generation) have announced the acquisition, subject to regulatory approval, of General Atlantic and H.I.G. Capital’s investment in FNZ, in a deal valuing the company at £1.65 billion. The acquisition, which is one of the world’s largest FinTech transactions this year, represents the first investment by CDPQ-Generation, a unique, sustainable equity partnership announced by CDPQ and Generation.
FNZ is a global FinTech firm responsible for over £330 billion in assets under administration held by around five million customers of some of the world’s largest financial institutions. CDPQ is one of Canada’s leading institutional fund managers with C$308.3 billion in net assets (as at 30 June, 2018).
Latham & Watkins advised CDPQ on the establishment of the partnership with Generation and on the investment in FNZ with a team led by London corporate partner Mike Bond and regulatory partner Nicola Higgs, and associates Linzi Thomas, Beatrice Lo, James McCrory, and Brett Carr.