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FNZ shareholders eye sale

Key backers of platform technology firm FNZ are reportedly selling their stakes in the business.

Thursday, August 2nd 2018, 6:00AM

British media said General Atlantic and HIG Europe were looking to sell their shareholdings in the company.

FNZ powers the Zurich, Standard Life Wrap, Elevate, Embark and Aviva platforms. Other customers include BNZ, Fisher Funds, AMP and First NZ Capital.

The two private equity firms have about a third of the company each. The rest is owned by FNZ’s executive team.

The sale could value the company at about $2 billion to $4 billion.

The company was founded in New Zealand in 2004, backed by First NZ Capital, and now has its largest office in Edinburgh.

Co-founder Adrian Dunham is still chief executive of the global operation.

It expanded into the UK in 2005 before moving into Australia in 2010, with a platform for AMP.

FNZ’s API-enabled platform offers integration with customers’ own services and applications, which gives them full control and ownership of the service delivered to client.

Tags: FNZ

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Lender Flt 1yr 2yr 3yr
ANZ 5.79 4.65 4.85 4.99
ANZ Special - 4.15 4.35 4.49
ASB Bank 5.80 4.59 4.69 4.79
ASB Bank Special - 4.19 4.29 4.39
BNZ - Mortgage One 6.50 - - -
BNZ - Rapid Repay 5.95 - - -
BNZ - Special - 4.19 4.29 4.49
BNZ - Std, FlyBuys 5.90 4.69 4.79 4.99
BNZ - TotalMoney 5.90 - - -
Credit Union Auckland 6.70 - - -
Credit Union Baywide 6.15 5.20 5.25 -
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Credit Union South 6.45 - - -
Finance Direct - - - -
First Credit Union 5.85 - - -
Heartland 6.70 7.00 7.25 7.85
Heartland Bank - Online - - - -
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Housing NZ Corp 5.80 4.69 4.79 4.79
HSBC Premier 5.89 3.99 4.19 4.69
HSBC Premier LVR > 80% - 3.85 - -
HSBC Special - - - -
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ICBC 5.80 4.59 4.69 5.09
Kiwibank 5.80 4.69 4.69 4.99
Kiwibank - Capped - - - -
Kiwibank - Offset 5.80 - - -
Kiwibank Special - 4.19 4.19 4.49
Liberty 5.69 - - -
Napier Building Society - - - -
Nelson Building Society 6.10 5.10 5.45 -
Resimac 5.30 4.86 4.94 5.30
RESIMAC Special - - - -
SBS Bank 5.89 4.85 5.05 4.49
Lender Flt 1yr 2yr 3yr
SBS Bank Special - 4.19 ▼3.95 4.49
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The Co-operative Bank - Owner Occ 5.75 4.19 ▼4.35 4.49
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Median 5.89 4.62 4.69 4.79

Last updated: 19 October 2018 6:18pm

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