Cleary Gottlieb is representing affiliates of BNP Paribas, BNP Paribas Securities Services, and BNP Paribas Asset Management Holding, as shareholders, in the initial public offering of Allfunds Group (Allfunds).
The offering consisted of a sell-down of 26% of Allfunds shares held by certain existing shareholders (including funds managed by affiliates of Hellman & Friedman, GIC, Credit Suisse, and BNP Paribas Securities Services) at an offer price of €11.50, implying a market capitalization of €7.24 billion.
Allfunds is one of the largest B2B WealthTech Platforms globally, with over €1.2 trillion of assets under administration, access to approximately 1,500 distributors in 59 countries, a selection of approximately 100,000 funds from 1,960 fund houses as of December 31, 2020, and 15 local offices in Europe, Asia, Latin America, and North America.