Corporate Real & Alternative assets

Amundi and Indosuez Wealth Management acquire a stake in AirFund to promote the marketing of private asset funds

Paris, France, November 14, 2023 by Amundi

AirFund, a digital platform created in 2021 to facilitate the link between management companies and distributors of Private Markets funds with retail investors, has reached a new milestone in its development with a financing round of €6 million. This new round is jointly led by Amundi and Indosuez Wealth Management, who become minority cornerstone shareholders, and will participate in the company's governance and strategic committee.

This transaction will help market private asset funds managed by Amundi and Indosuez, and facilitate subscription and repurchase transactions in these funds. The investment is accompanied by the signing of three strategic partnerships.

AirFund and Amundi Alternative & Real Assets will join forces to expand their offerings. On the one hand, funds managed by Amundi will henceforth be accessible via AirFund, enabling the company to reach new customers and ultimately serve existing Amundi customers through new digital channels. On the other hand, Amundi's expertise will help AirFund to offer tailor-made real asset fund of funds and feeder fund vehicles, thus meeting demand from AirFund's clients, be they asset management companies or distributors.

By partnering with AirFund, Indosuez Wealth Management will digitalize the distribution of its Private Markets funds to its large private investors, the Crédit Agricole Group's network banks and its external distribution partners. This partnership is in line with Indosuez's development strategy to take the growth of its Private Markets business beyond €10 billion in assets under management by 2025. In addition, the AirFund platform will digitalize the distribution of deals by Indosuez's real estate business line.

The B2B distribution platform Fund Channel (a joint venture between Amundi and CACEIS) will leverage AirFund to broaden the range of funds offered to its distributor clients by including private asset funds. This innovative digital solution for automating private asset fund flows will facilitate access to this asset class for distributors, enabling them to meet their own customers' expectations.

In addition to continuing to invest heavily in R&D, this round of financing will enable AirFund to accelerate its organic growth by strengthening its teams, and to develop new growth drivers with an expansion plan in Switzerland, Germany, Benelux, the UK, Spain and Italy. It will also enable AirFund to consolidate its position across the entire distribution value chain, and reinforce its ambition to become Europe's leading player in the democratization of private equity funds. AirFund already provides access to 40 private equity funds and over 1,000 partner distributors.

Alexandre Harkous, Chairman and founder of AirFund, OneWealthPlace Group, declares: "Having Amundi and Indosuez Wealth Management as shareholders is a real asset. This operation strengthens AirFund's position in its market and enables it to become a major player in the distribution of private asset funds in Europe, in partnership with Amundi, Fund Channel, and Indosuez. The arrival of these two renowned investors will enable us to double our workforce in France and Europe, to better support our customers and partners, accelerate our growth and diversify our recurring revenues. This fund-raising is a very good gas pedal for the ecosystem of private asset product distribution."

Nicolas Calcoen, Deputy CEO and Head of Strategy, Finance and Control at Amundi, declares, "In line with our strategic plan, this new partnership with the AirFund platform will enable Fund Channel to expand its service offering to private assets. It will also be an asset for the Amundi Alternative & Real assets platform, by making our products more accessible through the digitization of the customer journey among institutional and retail investors."

Nicolas Renauld, Global Head of Private Markets at Indosuez, declares: "With an investment platform that has been recognized by the market for over 20 years, and assets under management of more than €7.5 billion, this partnership is part of Indosuez's strategy to accelerate its presence in private markets. Digitalization is an essential element in improving the experience of our investors and partners.”