Multi-asset manager Candriam has become the latest shareholder in pan-European investment platform Inzes.
Founded in 2017 by a consortium of French asset management companies, Iznes in an international platform for buying and selling European mutual funds using blockchain technology.
No details were provided about the size of the stake or how much Candriam paid.
Among its shareholders are seven asset management companies, a life insurer and a social protection group.
The latter two, Generali Vie and Groupe Apicil, acquired their respective stakes in January 2021.
Again, details were not disclosed.
They join OFI Asset Management, Groupama AM, Arkea Investment Services, La Banque Postale, La Financiere de L’Echiquier and Lyxor AM; as well as Insurtech Capital and Mandalore Partners.
Candriam chief operating officer Fabrice Cuchet commented: “By purchasing a stake in Iznes, Candriam has underscored its determination to invest in cutting-edge technologies and new operational solutions that will benefit our clients.
“We are also thrilled to contribute to the development of innovative solutions offered by Iznes and to support French fintech with a promising international future.”
Welcoming Candriam to the group, Iznes chief executive Christophe Lapitre said: “The group boasts solid experience in portfolio management and international fund distribution, and its expertise will prove invaluable for our development outside France.”