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iM Square secures significant financing support from Eurazeo and launches its us distribution platform

iM Square, the sole European investment and development platform dedicated to asset management, successfully secured a new financing commitment from Eurazeo, one of its founding shareholder, after having completed its initial ambitious growth phase.

Eurazeo is committed to support iM Square’s investments over the next few years and is expected to become its reference shareholder. Other founding shareholder Le Groupe Dassault / La Maison will also participate.

  • iM Square announces its renewed objective to invest with current and future shareholders over $500 million within 2 to 4 years
  • iM Square announces the launch iM Global Partner US, its new American distribution platform

This new commitment will enable iM Square to acquire 3 to 6 additional participations in entrepreneurial active asset managers with $1 to 20 billion of AUM, high growth potential and complementary strategies, such as alternative management. Most of the targeted asset managers are based in the US and Europe. In additional to permanent capital, iM Square also brings financial and operational support as well as bespoke investment and distribution capabilities to its partners, which makes iM Square’s model unique in Europe.

Since 2015, iM Square has successfully acquired minority stakes in two US asset management companies: Polen Capital, an independent management firm specialised in growth stocks and Dolan McEniry Capital, specialised in US corporate bonds. Their respective assets under management continue to undergo strong growth: Polen Capital’s AUM grew from $7.5 billion to $17.4 billion since the partnership with iM Square in 2016, while Dolan McEniry’s grew from $5.8 billion to almost $6.5 billion since iM Square acquired its stake.

In addition, iM Square keeps on seeking for new shareholders which have distribution and investment capabilities, in the US and Europe.

Supported by a strong pool of long term investors, iM Square’s objective is to invest with current and future shareholders over $500 million within 2 to 4 years.

Philippe Couvrecelle, Founder and CEO of iM Square, declares: “This additional commitment from our shareholders is a mark of trust and confidence which will allow us to accelerate the rollout of our project, not only by acquiring stakes in new partner companies to complete our product offering, but also by strengthening our distribution capability. Indeed, it comes at a time when we are launching our US distribution platform and developing our distribution resources in Europe and within other markets. It will enables to bring our current and future partners not only a source of permanent capital, but also a unique distribution task force to partner and service their growth.”

Marc Frappier, Managing Partner of Eurazeo Capital, comments: “We are convinced that financial services, and asset management in particular, are a promising investment sector for Eurazeo that benefits from solid fundamentals. The launch of IM Square is a wonderful initiative that combines growth and entrepreneurial spirit, in a particularly deep market, offering its shareholders the opportunity to deploy several hundred million euros. We are delighted to support its founders by providing them with the long-term horizon and financial strength adapted to their market.”

Launch of a US distribution platform, a unique differentiating advantage to entrepreneurial asset manager.

iM Square also announces the launch of its US distribution platform, based on the model of its European one. The company will support and develop the operational distribution capability of its current and future partners in Europe and the US, which are both core markets.

In order to ensure the ambitious development of iM Global Partner US, iM Square announces the appointment of Jeffrey Seeley as Head of iM Global Partner US . As former Head of Distribution at AMG Funds, he has a perfect knowledge of US distribution platforms, strategic partnerships as well as collaboratively working with our investment management partners to continue their asset growth successes.

Through its two platforms, iM Square will bring its support and expertise in European and US distribution to its partners’ funds. iM Square aims to help its partners reach significant international clients (private banks, institutional investors, banking and insurance groups, funds selectors and distribution platforms) and notably their capacity to develop UCIT funds within European markets.

The two iM Global Partners platforms’ teams will bring together strong expertise based out in Europe and the US. The objective is to grow the team to 20 people to ensure the best partnership possible with the investment companies bringing not only a global distribution platform for their products but also a tailored access to unexplored client capabilities and segments of distribution.

Philippe Couvrecelle, President of iM Square, concludes: “We have strong ambitions for the development of our two distribution platforms in order to provide our current and future partners with the capability to support their growth and to bring them an international distribution capacity, allowing them to fully focus on the management and performances of their funds ”.

Next Finance , March 2018

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