Deals
Gore's Generation, Caisse Buy FNZ in $2.2 Billion Fintech Deal
- General Atlantic and HIG Capital will sell their FNZ stakes
- FNZ aims to tap bigger share of $30 trillion-wealth market
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Al Gore’s Generation Investment Management LLP and Canadian pension fund Caisse de Depot et Placement du Quebec teamed up to acquire control of wealth-management services provider FNZ in one of the year’s largest fintech deals.
The acquisition of a two-thirds stake held by the private equity firms General Atlantic and HIG Capital values FNZ at about 1.65 billion pounds ($2.2 billion), according to a statement from the companies Tuesday that confirmed an earlier report by Bloomberg News.