Cinven, along with Permira, supports Alter Domus on next stage of growth.
Alter Domus, a leading global provider of end-to-end tech-enabled fund administration, private debt, and corporate services for the alternative investment industry, today announced that it has secured a new strategic investment from Cinven. Cinven is a leading international private equity firm focused on building world-class global and European companies.
Since 2017, the Luxembourg firm Alter Domus has been 34 percent owned by the investment fund Permira. The rest of the shares belonged to the company's founders.
International private equity firm Cinven now joins the founders and Permira as investor in the next phase of growth. Cinven becomes majority shareholder of Alter Domus. The agreement values the financial services provider at 4.9 billion euros - making it the largest private equity deal of the year so far.
Through the transaction, Cinven will support the long-term strategic growth of Alter Domus, working in close partnership with the founders and Permira. Their continued involvement and investment in the firm is a huge endorsement for Alter Domus as a business, its global growth strategy to date and its future potential. The new structure means Alter Domus will now benefit from the support of three fantastic partners in Cinven, Permira and the founders, and this transaction strengthens the capital base of the company enabling it to focus on the next stage of its growth.
Established in 2003, Alter Domus is one of the largest fund administrators globally, with over 2.5 trillion dollars assets under administration (AUA). Solely dedicated to alternative assets, Alter Domus offers end-to-end tech-enabled fund administration and corporate services across three sectors: private equity, real assets and private debt. With the support of Permira since 2017, the firm has grown rapidly to meet the evolving needs of its client base, building a global network that now spans 23 jurisdictions, servicing 90 percent of the top 30 asset managers globally. Since Permira’s investment, Alter Domus has increased revenue, EBITDA and employee numbers by 5x.
Alter Domus was advised by Goldman Sachs International and Raymond James (M&A), DLA Piper, Jamieson Group (Dedicated advisors to management), Oliver Wyman (Commercial), EY (Financial & Tax) and Clifford Chance (Legal), Kroll (Compliance), Crosslake (Technology).
