Montagu reinvests in Universal Investment, CPPI takes minority stake

The partnership of Montagu and Toronto-headquartered CPP Investments, subject to regulatory approvals, is set to accelerate Universal Investment’s growth trajectory and support its ambition of becoming a leading global fund services player, according to a press release.

Montagu originally invested in the business via its fifth fund Montagu V in 2017. The vehicle held a final close in August 2015 on its EUR 2.75bn hard-cap, according to Unquote Data.

Under Montagu’s ownership the firm expanded its platform, launched new service offerings and internationalised the business, according to a press release. Universal Investment delivered significant growth in Germany, while accelerating its expansion in Luxembourg and entering a new strategic market in Ireland.

Looking ahead, both GPs aim to expand its offering across products, asset classes and jurisdictions, according to the deal announcement.

Montagu made a legal filing for its seventh fund in August. The GP held a final close for its predecessor vehicle Montagu VI, in 2020 on EUR 3.3bn, surpassing its EUR 3bn target. The fund was registered in February 2019, according to Unquote Data.

The GP has steadily grown the size of its funds over the years; it raised EUR 2.75bn for its 2015-vintage Montagu V vehicle, versus EUR 2.5bn for its 2010-vintage Montagu IV. Montagu VI was 36% deployed as of December 2021, according to Unquote Data. It had a TVPI of 1.04x as of the same date.

Montagu’s recent investments include its acquisition of UK-based maritime data and analytics firm Maritime Intelligence from Informa. The deal valued the company at GBP 385m, according to a statement from the vendor. It recently entered into exclusive negotiations to sell French health supplement maker Arkopharma to branded drug manufacturer Dermapharm for EUR 450m, as reported.

Company
Founded in 1968, Universal Investment is an independent platform for institutional investors and asset managers offering administration, structuring and distribution solutions as well as risk management for securities, real estate and alternatives. It has more than EUR 760bn in assets under administration, administers about 2,000 mutual and special fund mandates, and has more than 1,100 employees across Frankfurt am Main (Germany), Luxembourg, Dublin (Ireland), London (UK), Hamburg (Germany), and Krakow (Poland). UI labs, UI Enlyte and CAPinside are part of the group’s platform with a technology services offering. Universal Investment is a signatory of the UN Principles of Responsible Investment.

People
Universal Investment − Michael Reinhard (CEO).
Montagu − Daniel Fischer (director).
CPP Investments − Hafiz Lalani (managing director and head of European Direct Private Equity).

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