Matheson is pleased to advise Carne Group, Europe’s largest independent third‑party management company and a leading provider of services to the global asset management industry, on a major strategic investment by funds advised by Permira, the global investment firm, which have agreed to acquire a significant minority stake in Carne Group at an enterprise valuation of EUR 1.4bn.
The transaction, which remains subject to customary regulatory approvals, represents a significant milestone in Carne Group’s continued international growth while also facilitating the exit of certain existing shareholders including financial sponsor, Vitruvian Partners LLP. The strategic partnership with Permira marks an important step in Carne’s journey, supporting the next phase of its growth by enabling the group to accelerate the development of its technology platform and employ artificial intelligence.
“We are proud to support our valued client Carne Group on this milestone transaction, which ranks among the most significant private equity investments in the financial services sector in Ireland in recent times, and reflects Carne’s strong position within the global asset management ecosystem. Congratulations to John Donohoe and all the team at Carne on this achievement.” commented Caroline Kearns, Co-Head of Matheson’s Financial Institutions Group.
The large multi-practice Matheson team was led by Corporate partner Caroline Kearns together with George Brady (Corporate partner), Ruairí O’Donovan (Corporate senior associate), William Annab (Corporate senior associate), Catherine Finn (Corporate senior associate), Meghan D’Arcy (solicitor) and Mary Maunsell (solicitor), supported by an extensive team of specialist lawyers from across all practice areas within the firm, including partners Elaine Long (Financial Regulatory), Vahan Tchrakian (Tax), Anthony Gaskin (Asset Management), Maireadh Dale (Finance and Capital Markets) Marie McGinley (Technology and Innovation Group), Rachel Barry (Employment), Lorcan Keenan (Pensions), Sally Anne Stone (Commercial Real Estate) and Karen Reynolds (Litigation). The firm worked in close collaboration with Linklaters LLP on this transaction.
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