H&F-backed Allfunds bolts on Credit Suisse InvestLab

Credit Suisse will become a minority shareholder of up to 18% in the combined business.

The agreement to acquire InvestLab includes the company's service agreements and related distribution agreements. All employees will stay with the company.

Following the acquisition, Credit Suisse plans to use the combined business platform to distribute mutual funds and exchange-traded funds. The business was not core for Credit Suisse, according to reports.

H&F wholly acquired Allfunds Bank alongside Singapore's sovereign fund, GIC, for €1.8bn in 2017.

Company
Credit Suisse InvestLab is an investment product platform that offers a wide range of fund providers and distributors of more than 46,000 investment instruments. Based in Zurich, the company employs 25 people.

People
Allfunds Group – Juan Alcaraz (CEO).

Advisers
Vendor – Credit Suisse (corporate finance).

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