KNEIP purchases 3i stake following rapid internationalisation

KNEIP, an independent service provider to the global asset management industry, has repurchased all shares held by 3i, an international investor in growth capital, buyouts and infrastructure, following strong growth for the group during the last three years.

Luxembourg-based KNEIP provides a range of domestic and cross-border services to many of the world’s largest fund management companies, providing its services to funds which have combined assets under management in excess of €1.8 trillion. 3i first invested for a significant minority stake in KNEIP during May 2007 to help increase the company’s service offering and expand its geographical reach.

Via a collaborative partnership over the last three years and with 3i’s support, KNEIP has successfully launched new offices in both London and Paris, attracting customers across both regions. In addition, KNEIP has made three international acquisitions. In 2009 KNEIP purchased La Cote Bleue in Paris, a press agency and major supplier of fund listings to the French media. Also in 2009, KNEIP acquired the assets of web development company Akiraweb to strengthen its capabilities in technological development and research, as well as Luxemburg-based fund publication specialist Lombard Fund Services which provided multi-lingual translation services and helped to enhance KNEIP’s existing customer service.

During the last three years, KNEIP has successfully grown its business internationally, with staff numbers rising from 130 to 170 employees across UK, France, Switzerland and Luxembourg, providing services in 54 countries and on the internet across the globe. KNEIP has successfully maintained growth despite a global recession and against the backdrop of a particularly hard-hit financial sector.

Bob Kneip, CEO of KNEIP, comments: “In spite of the extremely challenging environment of the last 18 months, KNEIP has grown its revenue, customer service and geographic presence. 3i has been a supportive partner during the last three years and we look forward to continuing to build the business over the coming years.”

Pieter De Jong, 3i Partner based in the Benelux, added: “3i has been proud to lend its expertise and international contacts to assist the geographical expansion and growth of KNEIP, to reach its position today as the leading European service provider to the global asset management industry.”