Hong Kong wealth management start-up Quantifeed buys UK fintech firm to create platform to manage US$20bn of assets
- Quantifeed, backed by HSBC and Franklin Templeton, has bought Alpima, a London-based portfolio construction fintech company
- With the acquisition, Quantifeed plans to expand its presence in global markets, including Europe, Middle East and the Americas
The deal will create a platform used to manage more than US$20 billion worth of assets, a spokesman for Quantifeed said.
With the acquisition, Quantifeed plans to expand its presence in global markets, including Europe, Middle East and the Americas, it said in a statement on Tuesday.
Together the companies will provide “unparalleled capability” across a portfolio that includes construction, risk analytics, order management, monitoring and reporting, the group said.
“This is a significant milestone for us, we are delighted to join the Quantifeed family and combine our leading technology to create a global platform,” said Rafael Febres-Cordero, executive chair of Alpima.
As part of the transaction, Fidelity International Strategic Ventures, an investor in fintech businesses, joins Quantifeed as a shareholder.
“This transaction accelerates our mission to increase the productivity of investment professionals and to create better investment outcomes for their clients,” said Ypsilanti, who co-founded Quantifeed in Hong Kong in 2013.
Ypsilanti has over 15 years of investment banking and wealth management experience. Prior to founding Quantifeed, he was a managing director for Morgan Stanley and Bank of America Merrill Lynch.
The wealth management solutions company has two offices outside Hong Kong, in Singapore and Sydney, and has expanded its operations to cover customers across Asia.
Having secured series C funding in May, it has been stepping up its presence on the global fintech stage, including being a sponsor of this year’s Hong Kong Fintech Week.
The series C funding round was led by HSBC Asset Management’s alternative investments business, HSBC Alternatives. It was joined by Daiwa PI Partners and current shareholders including global asset manager Franklin Templeton and investment firm LUN Partners Group.