PR88712

BRUSSELS and STOCKHOLM, March 26, 2021, /PRNewswire=KYODO JBN/--

Euroclear has agreed to acquire MFEX Group, a leading global digital fund

distribution platform, majority owned by Nordic Capital.

The combination of MFEX's innovative distribution platform with Euroclear's

FundSettle post-trade operations expertise creates a unique and compelling

offering for fund distributors and fund management companies globally.

Faced with increasing levels of complexity and cost, fund management companies

require an efficient mechanism to access a broad network of end investors in a

fragmented marketplace. FundSettle already streamlines back office processes by

delivering a single point of access for order management, settlement and asset

servicing, bringing greater efficiencies and cost savings.

With this transaction, MFEX and Euroclear's complementary businesses are

expected to produce significant value through revenue synergies, expanding the

client service offering by creating a new funds market utility and a leading

global provider of fund services.

Established in 1999, the MFEX Group is headquartered in Stockholm with over 300

employees internationally. Experts in global fund distribution, MFEX offers a

complete solution for fund companies and distributors and has assets under

administration of EUR 320 billion. Over 350 institutional clients use MFEX to

access one of the world's largest range of funds with 80,000 funds from over

960 fund companies.

The parties have agreed not to disclose financial details. The transaction is

expected to close in the second half of 2021, subject to customary closing

conditions and regulatory approvals.

Lieve Mostrey, Chief Executive Officer, Euroclear commented: "We are delighted

to sign this agreement to acquire MFEX Group. We expect MFEX's broad fund

distribution network, along with its talented people, to be very complementary

to Euroclear as we continue to enhance our exceptional service, extend our

customer proposition and grow our business."

Jean Devambez, Chief Executive Officer, MFEX Group said: "Over the past years,

we have together with Nordic Capital invested in our platform and continued to

transform the fund distribution proposition. Euroclear is a great strategic fit

for the next stage of our journey. By adding our respective strengths, we will

be able to build an even better and stronger solution for fund distribution."  

MFEX co-founders and Board members, Olivier Huby and Oliver Lagerström added:

"It has been a privilege to work closely with Nordic Capital and to grow MFEX

together. We are delighted for MFEX to partner with Euroclear, which we believe

will be a perfect combination for the future."

David Samuelson, Board member of MFEX and Principal, Nordic Capital Advisors

also commented: "MFEX is a true leader in its field. Since Nordic Capital

became a majority owner in 2018, in partnership with the founders, MFEX has

experienced continued strong organic growth and executed a series of strategic,

value accretive acquisitions. MFEX has developed from being a Nordic leader in

its industry to a pan-European leader with an emerging global presence. Nordic

Capital is pleased to have been able to support this journey. Now it is the

ideal time for Nordic Capital to hand over to Euroclear as the next step for

MFEX."

About Euroclear

Euroclear group is the financial industry's trusted provider of post trade

services. Euroclear provides settlement and custody of domestic and cross-

border securities for bonds, equities and derivatives to investment funds.

Euroclear is a proven, resilient capital market infrastructure committed to

delivering risk-mitigation, automation and efficiency at scale for its global

client franchise.

The Euroclear group includes Euroclear Bank - which is rated AA+ by Fitch

Ratings and AA by Standard & Poor's - as well as Euroclear Belgium, Euroclear

Finland, Euroclear France, Euroclear Nederland, Euroclear Sweden and Euroclear

UK & Ireland. The Euroclear group settled the equivalent of EUR 897 trillion in

securities transactions in 2020, representing 276 million domestic and

cross-border transactions, and held EUR 32.8 trillion in assets for clients by

end 2020. For more information about Euroclear, please visit www.euroclear.com.

About MFEX

As independent experts in global fund distribution, MFEX offers a complete

solution for fund companies and distributors. The MFEX Group was established in

Sweden in 1999 and is headquartered in Stockholm with offices in Paris,

Luxembourg, London, Geneva, Kuala Lumpur, Milan, Madrid, Umea, Hong Kong,

Singapore and Zürich. The main supervisory authority is the Swedish Financial

Supervisory Authority (Finansinspektionen).

Today, MFEX is a pan-European leader with a global presence active in 52

countries on 5 continents with more than 300 employees. The company is divided

into four main business areas: Trading and custody, Distribution agreement and

rebate collection, Data and fund information and Due Diligence / AML & KYC

(Global Fund Watch). More information is available at www.mfex.com

About Nordic Capital

Nordic Capital is a leading private equity investor with a resolute commitment

to creating stronger, sustainable businesses through operational improvement

and transformative growth. Nordic Capital focuses on selected regions and

sectors where it has deep experience and a long history. Focus sectors are

Healthcare, Technology & Payments, Financial Services, and selectively,

Industrial & Business Services. Key regions are Europe and globally for

Healthcare and Technology & Payments investments. Since inception in 1989,

Nordic Capital has invested more than EUR 17 billion in close to 120

investments. The most recent fund is Nordic Capital Fund X with EUR 6.1 billion

in committed capital, principally provided by international institutional

investors such as pension funds. Nordic Capital Advisors have local offices in

Sweden, Denmark, Finland, Norway, Germany, the UK and the US. For further

information about Nordic Capital, please visit www.nordiccapital.com

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SOURCE: Euroclear