Digital asset management platform and ManCo Carne Group has made a deal with global advisory, brokering and solutions business Willis Towers Watson (WTW) to acquire its asset management exchange (AMX), subject to regulatory approval
The deal will see WTW take a minority stake in Carne aiming to add scale and growth opportunities to its own client solutions platforms.
AMX is attempting to build an efficient investment ecosystem using technology to transform conventional ways of working. It connects investors, asset managers and service partners so they can transact and interact all in one place through its institutional funds platform.
The transaction will see Carne employ over 500 professionals, working with more than 600 leading asset managers and institutional investors, across 11 offices worldwide. Its third-party fund management company will manage in excess of $300 billion AUM with over $2 trillion on its proprietary technology, CORR.
It is hoped that together Carne and AMX will be able to meet the future needs of institutional investors, asset managers, distributors and service partners. Investors should have broader access to fund managers and efficient structures, whilst fund managers and distributors will have optimised products coming to market, driving faster time to revenue.
Carl Hess, chief executive at WTW said: “We are excited to have agreed this transaction with Carne Group, and we look forward to working together with Carne as a partner and investor. Five years ago, AMX was established to transform investor experience and outcomes. Now as part of Carne, AMX can realise its full potential, delivering new products and enhanced services to a wider section of our client base in more jurisdictions and asset classes. I am incredibly proud of WTW’s role in developing AMX into an ecosystem which today facilitates critical interactions between institutional investors, asset managers and service partners across an asset pool of approximately $60 billion.
“Carne and AMX have incredible people and technology, combined with unrivaled industry expertise. Together they can accelerate the pace of industry change for investors and managers through what will be the leading industry platform”, he added.
John Donohoe, chief executive at Carne Group added: “Carne’s ultimate goal is to unite the industry’s investors and distributors with their asset managers resulting in faster deployment of investment capital. Our industry platform, driven by our proprietary technology CORR, accelerates revenue generation as well as delivering enhanced reporting. Now, with AMX as part of Carne, we can offer even better solutions to our clients and the entire industry through one of the sector’s leading digitally driven global platforms.”
