Last updated: 09:17 / Monday, 26 April 2021
Eurazeo sells part of its stake

IK Investment Partners and Luxempart Become Investors of iM Global Partner

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  • Eurazeo has sold part of its stake in iM Global Partner to IK Investment Partners and Luxempart, but will continue to support the company alongside them
  • The addition of both firms as shareholders marks an important step in the development of the company, strenghtening its development potential
  • iM Global Partner's strategy is to continue to invest to further develop the company with the aim of exceeding 100 billion dollars in assets under management within five to seven years

The project of Philippe Couvrecelle, iM Global Partner, enters a new phase in its development, welcoming two new investors. IK Investment Partners and Luxempart have bought part of Eurazeo's stake in the company, subject to the approval of the French Autorité des Marchés Financiers and the Commission de Surveillance du Secteur Financier.

In a press release, iM Global Partner highlighted that the addition of both firms as shareholders marks an important step in the development of the company. It believes their support strengthens its development potential and will accelerate its growth for years to come. iM Global Partner's strategy is to continue to invest, both organically and through external growth, to further develop the company with the aim of exceeding 100 billion dollars in assets under management within five to seven years.

Following the transaction, Eurazeo, as a controlling shareholder, will continue to actively support the company alongside shareholders IK Investment Partners, Luxempart and Amundi. Proceeds from the disposals relating to this transaction of 20% of the capital represent about 70 million dollars for Eurazeo, a cash-on-cash multiple of 2.1x and an internal rate of return of 22%. Dassault/La Maison, a shareholder from the outset, sold its stake at the time of the operation.

A growth story

“We are pleased to welcome IK Investment Partners and Luxempart alongside Eurazeo and Amundi, which have been accompanying and supporting us since the beginning of this great adventure. Together, we will continue to develop our unique asset management model and further accelerate the growth of our activities worldwide", stated Philippe Couvrecelle, CEO and founder of iM Global Partner.

Also, Marc Frappier, Managing Partner of Eurazeo and Head of Eurazeo Capital, said that their strong belief in the growth of the asset management profession, coupled with "the talent and the vision" of Couvrecelle, led them to support the development of "an innovative network bringing together the best managers worldwide and leading distribution capacities".

As for the new investors, Thomas Grob, Partner at IK Investment Partners, added that they were impressed by the growth trajectory, quality of the teams, international nature and development project of iM Global Partner. "We are pleased and proud to have won the trust of Philippe Couvrecelle, Eurazeo and Amundi to join them in contributing to the company's growth story", he commented.

Lastly, Olaf Kordes, Managing Director of Luxempart, claimed to be pleased to be able to join the group of the firm’s shareholders: "We have been convinced by the quality and vision of the management team. We are very keen to continue supporting the development of this leading player with significant international ambitions. This operation is perfectly in line with Luxempart's revised strategy, which aims to support first-rate management teams in their development projects over the long term".

This transaction comes after iM Global Partner, a global network dedicated to asset management, increased its assets under management by 65% -of which 46% was organic growth- to more than 19 billion dollar in the year to end December 2020. With Eurazeo and Amundi, which have supported Couvrecelle and the management team since the company’s inception, iM Global Partner has become a major international asset management network in just a few years.

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