Sydney private equity firm Five V Capital has exited its investment in funds research operation Zenith Group with global fund data business FE fundinfo acquiring the business.
The value of the acquisition has not been disclosed.
Five V Capital made an undisclosed investment in Zenith Investment Partners in December 2019. That investment funded the exit of two partners with current chief executive David Wright and consulting head Ben Davis continuing in the business. Wright and Davis have also sold their stakes to FE fundinfo but will continue to work in the business.
Zenith Investment Partners acquired the superannuation and pensions research business Chant West for $12 million from then Kestrel Capital-controlled Chant West Holdings in 2020.
FE fundinfo said its acquisition of Zenith Group brings together leading fund data and research providers in Europe and the Asia-Pacific region.
FE fundinfo provides independent data to European asset managers and distributors and has offices in key fund centres such as London, Luxembourg and Zurich. The company works with almost 1,000 asset managers, fund managers and fund distributors worldwide. FE fundinfo has had an office in Sydney since 2014 and has worked to connect the regional funds management industry into its network since then, including acquiring publications Money Management and Super Review in 2017.
Angus Whitehead of Five V’s investment team said: “Zenith is a fantastic business led by an exceptional team which continues to deliver leading investment research, consulting and product insights. Since the commencement of our partnership, Zenith has achieved transformational growth and we have been proud to support David Wright and his team on this journey. Now with FE fundinfo’s global reach and growth agenda, we believe the business is well positioned to continue to build on this platform and enhance its service offerings for clients in the years ahead.”
Wright said he was looking forward to working with FE fundinfo to expand the research data and technology offered to Australian clients whilst also gaining the opportunity to explore global reach.
“There’s excellent alignment of values and purposes across the two organisations and a belief that together we can create a really compelling premium service for advisers, fund managers, super funds and institutional clients,” he said.