Investors sell two-thirds of £1.6bn platform tech provider FNZ

H.I.G. Europe, an affiliate of H.I.G. Capital, held a stake worth one-third of the investment platform technology business, which it has sold to Caisse de Depot et Placement du Quebec and Generation Investment Management. General Atlantic has also sold its one-third stake in the business to the firm. FNZ provides technology for the Aviva, Embark, Old Mutual Wealth and Standard Life adviser platforms. It also provides technology to other financial groups, such as Barclays and HSBC. Sky News in July reported sources understood the members of the management team were not looking to sell ...