AirFund Secures €6 Million in Financing Round Led by Amundi and Indosuez Wealth Management

AirFund Secures €6 Million in Financing Round Led by Amundi and Indosuez Wealth Management

(IN BRIEF) Amundi and Indosuez Wealth Management have jointly invested in AirFund, a digital platform designed to connect asset management firms and distributors of Private Markets funds with retail investors. This €6 million financing round marks a significant step in AirFund’s development, with both Amundi and Indosuez Wealth Management becoming minority cornerstone shareholders and actively participating in the company’s governance and strategic committee. The partnership aims to promote private asset funds managed by Amundi and Indosuez, streamline subscription and repurchase transactions, and facilitate digital distribution. This collaboration also includes strategic partnerships between AirFund and Amundi Alternative & Real Assets, as well as with B2B distribution platform Fund Channel (a joint venture between Amundi and CACEIS), offering a wider range of funds to distributor clients. The financing will fuel AirFund’s organic growth, enabling expansion into several European markets and reinforcing its position in the private equity fund distribution space. Currently, AirFund provides access to 40 private equity funds and collaborates with over 1,000 partner distributors.

(PRESS RELEASE) PARIS, 4-Aug-2023 — /EuropaWire/ — AirFund, the digital platform established in 2021 to facilitate connections between asset management firms and Private Markets fund distributors and retail investors, has achieved a significant milestone by securing €6 million in a recent financing round. This funding round, jointly led by Credit Agricole Group (EPA: ACA) subsidiaries Amundi (EPA: AMUN) and Indosuez Wealth Management, has made both companies minority cornerstone shareholders, and they will actively participate in AirFund’s governance and strategic committee. The primary objective of this transaction is to promote private asset funds managed by Amundi and Indosuez while simplifying subscription and repurchase processes for these funds. Additionally, three strategic partnerships have been established.

AirFund and Amundi Alternative & Real Assets will collaborate to expand their offerings. Amundi-managed funds will now be accessible through AirFund, enabling the platform to reach new customers and serve existing Amundi clients through digital channels. In return, Amundi will leverage its expertise to assist AirFund in offering tailored real asset fund of funds and feeder fund vehicles, meeting the needs of asset management companies and distributors.

By partnering with AirFund, Indosuez Wealth Management will digitize the distribution of its Private Markets funds to its private investors, the Crédit Agricole Group’s network banks, and external distribution partners. This aligns with Indosuez’s growth strategy, aiming to exceed €10 billion in assets under management in its Private Markets business by 2025. Moreover, the AirFund platform will digitize the distribution of deals for Indosuez’s real estate business line.

The B2B distribution platform Fund Channel, a joint venture between Amundi and CACEIS, will utilize AirFund to expand the range of funds available to distributor clients, including private asset funds. This innovative digital solution streamlines private asset fund flows, making this asset class more accessible to distributors, allowing them to meet their customers’ expectations.

Aside from increased investment in research and development, this financing round will empower AirFund to accelerate its organic growth by strengthening its teams and pursuing expansion plans in Switzerland, Germany, Benelux, the UK, Spain, and Italy. It will also solidify AirFund’s position throughout the distribution value chain, furthering its mission to become a leading player in democratizing private equity funds in Europe. Currently, AirFund offers access to 40 private equity funds and collaborates with 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.”

About AirFund and OneWealthPlace
Founded at the end of 2017, by Alexandre Harkous, Yann Charraire, Sébastien Liévain and Cédric Hauber, French Fintech Studio, OneWealthPlace, has developed several solutions (notably AirWealth and AirfFund) and has since acquired Horizons Software’s Asset Management division and digital company SILK AM.

Joined by Xavier Chaudé, Frédéric Ledinahet and Yann Kastelnik, the management of OneWealthPlace decided at the end of 2021 to consolidate all its solutions within the AirFund platform, thus becoming pioneers digital platforms for the distribution of private asset funds in France, leveraging their innovative technology, complete value chain, and efficient service.

Based in France, with European ambitions, AirFund currently employs 26 people in Paris, and aims to double in size by 2024, to become the leading distribution platform in Europe by 2027.

About Amundi
Amundi, the leading European asset manager, ranking among the top 10 global players[1], offers its 100 million clients – retail, institutional and corporate – a complete range of savings and investment solutions in active and passive management, in traditional or real assets. This offering is enhanced with IT tools and services to cover the entire savings value chain. A subsidiary of the Crédit Agricole group and listed on the stock exchange, Amundi currently manages more than €1.95 trillion of assets[2].

With its six international investment hubs[3], financial and extra-financial research capabilities and long-standing commitment to responsible investment, Amundi is a key player in the asset management landscape.

Amundi clients benefit from the expertise and advice of 5,400 employees in 35 countries.

Amundi, a trusted partner, working every day in the interest of its clients and society

www.amundi.com

^ [1] Source: IPE “Top 500 Asset Managers” published in June 2023, based on assets under management as at 31/12/2022
^ [2] Amundi data as at 30/09/2023
^ [3] Boston, Dublin, London, Milan, Paris and Tokyo

About Fund Channel
Fund Channel is a B2B fund distribution platform operating in Europe and Asia. Since 2005, Fund Channel has been offering an all-in-one solution with innovative services to facilitate fund distribution, enhance transparency and improve processes for fund managers and distributors to strengthen their relationships with clients, partners and regulators.

Fund Channel has over 382 billion euros in assets under intermediation, and offers a “one-stop-shop” solution on behalf of 600 fund management companies and over 100 fund distributors.

A joint subsidiary of Amundi and CACEIS, Fund Channel is headquartered in Luxembourg, with offices in Italy, Singapore and Switzerland.

About Indosuez Wealth Management
Indosuez Wealth Management is the global wealth management brand of the Crédit Agricole Group, the world’s 10th largest bank by balance sheet (The Banker 2022).

Shaped by more than 145 years of experience in accompanying families and entrepreneurs from all over the world, Indosuez Wealth Management offers a tailor-made approach enabling each of its customers to preserve and develop their wealth in line with their aspirations. Endowed with a global vision, its teams provide expert advice and exceptional service across one of the broadest spectrums in the business, for both private and professional wealth management.

Distinguished for its human and resolutely international dimension, Indosuez Wealth Management employs nearly 3,000 people in 11 territories worldwide: in Europe (Belgium, Spain, France, Italy, Luxembourg, Monaco and Switzerland), Asia-Pacific (Hong Kong SAR, New Caledonia and Singapore) and the Middle East (United Arab Emirates).

With 130 billion euros in assets under management (as at 31/12/2022), Indosuez Wealth Management is one of the world’s leading wealth management companies.

Press Contacts – Agence Fargo

• Féten Ben Hariz – fbenhariz@fargo.agency – +33 (0) 6 16 83 63 06
• Diana Kostova – dkostova@fargo.agency – +33 (0) 6 16 83 87 50

Press Contacts – Amundi Asset Management

• Corentin Henry – corentin.henry@amundi.com – +33 (0) 1 76 32 26 96
• Letizia de Bernardi letizia.debernardi@amundi.com – + 33 (0)1 76 32 31 22

Press Contacts – Indosuez Wealth Management

• Jenny Sensiau – jenny.sensiau@ca-indosuez.com – + 33 (0) 7 86 22 15 24

SOURCE: Crédit Agricole Group