tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Thursday, June 30th, 6:10PM

News

rss
Latest Headlines

FNZ valued at US$20 billion plus

What started as a small start fintech firm in Wellington has turned into a global giant.

Monday, February 14th 2022, 10:08AM 2 Comments

The FNZ wealth management platform, has completed one of the largest ever primary capital raises in the wealth management sector raised US$1.4 billion.

The deal values FNZ at more than US$20 billion.

FNZ has secured US$1.4 billion in new equity funding from Canada Pension Plan Investment Board and Motive Partners to accelerate transformation in the global wealth industry.

This investment reflects both CPP Investments' and Motive's confidence in FNZ's business model and future growth prospects both geographically and through market consolidation, the company says in a statement.

"The capital raise will help FNZ further accelerate its growth through increased research and development, as well as driving growth in markets that FNZ have recently entered, in particular North America. 

Since its foundation in 2003 in New Zealand, FNZ has demonstrated exponential growth. In the last five years, it has grown assets under administration over seven-fold from US$212 billion to over US$1.5 trillion. The company now partners with over 650 large financial institutions and over 8,000 wealth management firms in 21 countries including abrdn, Allianz, Aviva, Barclays, BNP Paribas Cardif, BNZ, Colonial First State, Generali, Jarden, Lloyds, Momentum, NAB, Quilter, Swedbank, UOB and Vanguard.

This growth is set to continue as FNZ accelerates its market penetration, targeting a greater share of the US$100 trillion global wealth market.

The company has consistently attracted strong investment interest and CPP Investments and Motive Partners represent the fifth and sixth external shareholders in FNZ. In 2018, CDPQ and Generation Investment Management acquired a majority stake in the company, in a partnership built around long-term and sustainable investment. They were joined in 2021 by Temasek, enhancing FNZ's reach into Asian markets. All investors remain long-term and committed shareholders, alongside more than 800 employee-shareholders. No investors will be selling any secondary shares in the transaction.

FNZ founder and group chief executive Adrian Durham said: "Today's announcement represents a resounding endorsement of FNZ's track record and future strategy. The company has successfully demonstrated exponential growth in the scale and depth of customer relationships and geographic expansion with platform revenues more than quadrupling in the past three years to over US$1billion per annum, whilst also growing profitably and sustainably.

"Our growth trajectory shows no signs of slowing down."

Tags: FNZ

« Doing well, doing good: ethical KiwiSaver funds top rankingsQuarter of advisers consider quitting due to stress »

Special Offers

Comments from our readers

On 15 February 2022 at 4:30 pm howie said:
Amazing kiwi success story - just a pity the main domicile did not remain in NZ.

Hope the kiwis who backed this and the team who did the hard work have been well rewarded for a success story.

Much better we reward such success rather than high rewards for failure as shown by the other story on the former Aussie mutual society
On 18 February 2022 at 11:01 pm Graeme33 said:
fairly typical though...start up Kiwis, show the flair to start the thing ...get out and their reward about 1/1000 of todays value ....Hold Forever...should have listened to Warren B

Sign In to add your comment

 

print

Printable version  

print

Email to a friend
News Bites
Latest Comments
  • Controversial and coming soon, but how broad is COFI’s reach?
    “The slow dismantling of the advice industry bought to you by those who missed the straw that broke the camel's back....”
    8 hours ago by Good Hamish
  • Conduct laws finally real
    “He (Clark) said reviews by the Reserve Bank and the FMA had found banks and insurers lacked focus on good customer outcomes,...”
    13 hours ago by Amused
  • OBITUARY: Controversial adviser dies at 80
    “Condolences to family and friends. Good that a lot of the very positive work Roger undertook has been called out....”
    16 hours ago by jeff m
  • OBITUARY: Controversial adviser dies at 80
    “Roger Moses was a true pioneer in the financial planning world. As the say, you can easily spot your pioneers… they have...”
    1 day ago by Managing Partner & Dean
  • Pathfinder big winner
    “Well done Peter. I know, as most others do, you are very passionate about ethical investing. This is a well deserved award...”
    2 days ago by John Milner
Subscribe Now

Weekly Wrap

Previous News
Most Commented On
Mortgage Rates Table

Full Rates Table | Compare Rates

Lender Flt 1yr 2yr 3yr
AIA 5.95 4.85 5.35 5.65
ANZ 5.94 5.95 6.40 6.59
ANZ Blueprint to Build - - - -
ANZ Special - 5.35 5.80 5.99
ASB Bank 5.85 5.35 5.80 5.99
Avanti Finance 5.95 - - -
Basecorp Finance 6.95 - - -
Bluestone 5.89 7.49 8.09 8.19
BNZ - Classic - 5.35 5.69 5.99
BNZ - Mortgage One 5.94 - - -
BNZ - Rapid Repay 5.94 - - -
Lender Flt 1yr 2yr 3yr
BNZ - Std, FlyBuys 5.94 5.95 6.29 6.59
BNZ - TotalMoney 5.94 - - -
CFML Loans 6.45 - - -
China Construction Bank 5.50 5.40 6.14 6.40
China Construction Bank Special - 4.45 5.19 5.45
Co-operative Bank - First Home Special - 4.75 - -
Co-operative Bank - Owner Occ 5.85 4.85 5.35 5.65
Co-operative Bank - Standard 5.85 5.35 5.85 6.15
Credit Union Auckland 5.95 - - -
First Credit Union Special 5.85 ▲5.35 ▲5.85 -
Heartland Bank - Online 4.10 ▲4.90 ▲5.29 ▲5.59
Lender Flt 1yr 2yr 3yr
Heretaunga Building Society 6.10 ▲5.35 ▲5.80 -
HSBC Premier 5.89 4.39 5.15 5.39
HSBC Premier LVR > 80% - - - -
HSBC Special - - - -
ICBC 5.25 4.39 5.09 5.45
Kainga Ora 5.43 4.57 5.58 5.85
Kainga Ora - First Home Buyer Special - - - -
Kiwibank 5.50 ▲6.19 ▲6.69 ▲6.79
Kiwibank - Offset 5.50 - - -
Kiwibank Special 5.00 ▲5.19 ▲5.69 ▲5.89
Liberty 4.84 - - -
Lender Flt 1yr 2yr 3yr
Nelson Building Society 6.45 5.55 6.15 -
Pepper Money 4.49 - - -
Resimac 6.19 5.60 6.16 6.29
SBS Bank 5.79 ▲5.65 ▲6.09 ▲6.19
SBS Bank Special - ▲5.15 ▲5.59 ▲5.69
Select Home Loans 4.09 4.29 4.86 5.09
TSB Bank ▲6.30 ▲5.65 5.79 ▲6.45
TSB Special ▲5.50 ▲4.85 4.99 ▲5.65
Unity 5.65 4.95 5.55 -
Wairarapa Building Society 5.74 4.95 5.75 -
Westpac 5.94 5.95 6.29 6.59
Lender Flt 1yr 2yr 3yr
Westpac - Offset 5.94 - - -
Westpac Special - 5.35 5.69 5.99
Median 5.87 5.35 5.77 5.99

Last updated: 30 June 2022 9:19am

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com