FNZ Raises $500 Million

FNZ has announced that they have raised an additional $500 million from existing investors. The proceeds will be used to "support long-term sustainable growth," which sounds pretty snazzy even if a bit light on detail. As a reminder, the big investors are Motive Partners and CPP Partners, having lead their $1.4 billion round in 2022. Tamasek and Caisse de dépôt are also in there, but there were no details as to participation rates or which investors participated.

There are quite a few small and employee equity holders as well. Last year it was reported that 200+ small equity holders were concerned about the level of dilution on the last financing. Knowing if there was significant participation and support for this financing from those investors would show that the issue has now been resolved.

Regardless, the bottom line is that FNZ, and Motive in particular, are out to transform the wealth management landscape for the better and we support them in that quest.

Link to the FNZ announcement: https://www.fnz.com/news/fnz-raises-ususd500-million-in-new-capital-from-existing-shareholders-to