FE fundinfo is set to acquire fund registration and regulatory services provider Fundsquare as a result of a new partnership with the Luxembourg Stock Exchange (LuxSE).
Luxembourg-based Fundsquare is a wholly owned subsidiary of LuxSE and, as part of the deal, LuxSE will become an investor in FE fundinfo.
FE fundinfo said that the acquisition of Fundsquare will “combine two complementary businesses” to create a “pan-European champion” in fund data, reporting and infrastructure.
It also said that the acquisition will provide the opportunity for LuxSE and FE fundinfo to explore joint opportunities in ESG-related products and services.
FE fundinfo already operates in Luxembourg where it supports centralised platform for data and documents, the publiFund platform.
Fundsquare was established by LuxSE in 2013 and now has 65 employees.
A Centre of Excellence for regulatory reporting will also be established by FE fundinfo in Luxembourg as part of the acquisition.
Hamish Purdey, CEO of FE fundinfo, said: “Fundsquare’s reputation as an independent fund registration and regulatory reporting champion is renowned across Europe. We believe our services are highly complementary and the deal will bring together two industry leaders in fund data and reporting.
“By combining our services, the scope for greater efficiencies and product innovation will dramatically increase and the industry will benefit greatly from the enhanced product and service integration.”
Julie Becker, CEO of LuxSE, added: “We have found the best partner in FE fundinfo and we are confident that this new ownership structure will bring the Fundsquare team many new opportunities for innovation, growth and scale in a rapidly changing environment.”