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Matheson advises Carne on its acquisition of The Asset Management Exchange

Matheson is pleased to have advised Carne Group, a leading digitally-driven platform for the global asset management industry, on its recent transaction with Willis Towers Watson (“WTW) to acquire ‘The Asset Management Exchange’ (“AMX”) from WTW.  AMX is a leading institutional funds platform which connects investors, asset managers and service partners, enabling them to transact and interact in one place.

In return, WTW will take a minority stake in Carne Group, adding scale and growth opportunities to its own client solutions platforms. 

Together, Carne Group and AMX will provide institutional investors with broader access to fund managers and efficient structures, while asset managers, distributors and service partners will have optimised products coming to market, driving faster time to revenue.  It will see Carne Group 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 US$300 billion assets under management with over US$2Tn on its proprietary technology. 

Caroline Kearns, partner in Matheson’s Corporate M&A department said: “Matheson is delighted to have advised Carne Group on this strategic transaction, showcasing the Financial Institutions Group’s ability to provide specialist Corporate M&A and regulatory advice in one dedicated team. We look forward to working with Carne to complete the transaction in 2022.

Completion of the deal is subject to approvals from the Central Bank of Ireland, the UK’s Financial Conduct Authority and the Cayman Islands Monetary Authority, expected in mid-2022.  The Matheson team was led by partner Caroline Kearns, alongside Eugene Reavey, Donal Feehan, and Eoin Shiel from our Financial Institutions Group, together with partners Kevin Smith (Tax), Anthony Gaskin (Asset Management), and Niamh Mulholland (Financial Regulation).