Hellman & Friedman and GIC to acquire Allfunds Bank.

Hellman & Friedman, a leading private equity investor, and GIC, Singapore’s sovereign wealth fund, agreed to acquire Allfunds Bank, a leading global financial technology business, from Intesa Sanpaolo Group, Santander Group, General Atlantic and Warburg Pincus. The deal values Allfunds at €1.8bn and is subject to the customary closing conditions. Juan Alcaraz, CEO of Allfunds, said: “Hellman & Friedman’s strong track record in building premier global financial services franchises and GIC’s leading presence in Asia make them the perfect partners to support our future growth. Together with our new shareholders, we will invest in growing the business across the world, while continuing to support our clients in delivering the broadest available range of products to their customers.”