Global wealth management platform FNZ is reportedly looking to raise $1bn (£760m, €890m) to bolster its global expansion plans.
According to Bloomberg, the company is working with private equity firm Lazard to reach out to potential investors to help financially back the firm, which is looking to use the funds to grow its business and support future acquisitions.
International Adviser has contacted FNZ and Lazard. FNZ declined to comment, but Lazard failed to reply in time for publication.
This comes after FNZ’s recent acquisition spree, which includes the purchase of client onboarding and servicing tech provider Appway as well as New Zealand-based online investment platform Hatch.
But there still has been no update on the future of the merger between FNZ and investment platform GBST after it was held up by the UK’s Competition and Markets Authority (CMA).
In June 2021, the regulator finalised its recommendations to change the terms of the deal.