Allfunds will launch an initial public offering in Amsterdam, the fund distribution platform said on April 7.
Allfunds is targeting a valuation of over 7 billion euros from the listing, Reuters reported, citing a source familiar with the transaction. Allfunds had over 1.2 trillion euros of assets under administration as of Dec. 31, 2020, and generated 370 million euros in revenue and 263 million euros in adjusted EBITDA that year.
The company plans to list 25% of its shares on the Dutch bourse, with private-equity owner Hellman & Friedman selling the shares. The buyout group, together with GIC, Singapore’s sovereign wealth fund, acquired Allfunds in 2017 from private equity groups Warburg Pincus and General Atlantic, and banks Santander and Intesa Sanpaolo in a deal valuing the company at 1.8 billion euros.Traders raise their glasses during the last trading day at the stock exchange in Frankfurt, Germany, December 28, 2018.