Global wealth management platform FNZ has raised $650m in new equity funding from its existing institutional shareholders.

FNZ said this additional capital would provide further financial strength to support its long-term business plan and its commitment to delivering enhanced outcomes to clients.

The investors include La Caisse, Generation Investment Management, Canada Pension Plan Investment Board (CPP Investments), and Motive Partners, and will be joined by some of FNZ’s clients, including Aberdeen Group, Aviva, FirstCape, Ninety One, and Nucleus Financial Platforms.

FNZ said the investment reflected the support for its long-term strategy, leadership team, and the role its technology plays in modernising the wealth management industry, and supported its credit ratings and enabled it to deliver on its strategy.

The platform has $2.1trn of assets on platform, up five-fold since 2020, and has won new mandates and renewed existing partnerships this year, including a new strategic partnership with Microsoft.

“Over the past year we have created the conditions for FNZ’s long-term success: putting client delivery at the core of our plans, instilling operational discipline, and driving profitable growth,” commented FNZ chief executive officer, Blythe Masters.

“The opportunity ahead is huge and this capital allows us to grasp it with both hands.”

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