As first reported by Bloomberg, Fidelity is reportedly considering a sale of its German fund platform, FIL Fondsbank.
The platform has €35.4 billion in assets under management, making it one of the biggest in Germany.
Private Equity News Germany
Fidelity is said to be working with investment bank Rothschild to find a buyer for FIL Fondsbank.
The potential sale comes as Fidelity is looking to streamline its operations and focus on its core businesses.
Image: Fondsbank
FIL Fondsbank was founded in 1969 and is based in Frankfurt.
The platform offers a range of investment products, including mutual funds, ETFs, and structured products. It has a strong customer base of retail investors and institutional investors.
A sale of FIL Fondsbank would be a major move for Fidelity.
It would be the first time that the company has sold a fund platform in Europe. The sale would also mark a retreat from Germany, where Fidelity has been a major player for decades.
It is not clear who might be interested in buying FIL Fondsbank.
Some potential buyers could be other asset managers, banks, or financial technology companies.
The sale of FIL Fondsbank is expected to be completed in the coming months. The deal could be worth several hundred million euros.
The sale of FIL Fondsbank is a sign of the changing landscape in the asset management industry.
Asset managers are under pressure to consolidate and streamline their operations in order to cut costs and improve efficiency.
The sale of FIL Fondsbank is also a sign of Fidelity’s commitment to its core businesses.
Private Equity News Europe
