A private equity firm has taken joint control of FNZ, the platform provider powering the Standard Life and Elevate wraps.
General Atlantic has taken an equity stake in the Edinburgh-based platform provider, according to a document filed with the Official Journal of the European Union. The deal, subject to regulatory approval, will see the platform provider jointly owned by General Atlantic, fellow private equity firm HIG Capital and existing FNZ shareholders. FNZ powers Axa Wealth's Elevate platform, the soon-to-launch Zurich platform and the Standard Life wrap.
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