News

• Banca March has offered unwavering support for Inversis’s growth over the last 10 years, in line with its investment philosophy, which, as well as strengthening its investee companies, also ensures the application of rigorous Good Governance standards.
• Euroclear’s acquisition of an initial 49% stake in its share capital will allow Inversis to grow the global footprint of its integrated investment and financial services outsourcing technology solutions outside the Spanish market. It will also support access to a larger, more international client profile.
• Following the growth strategy rolled out in recent years, and thanks to the outstanding work by its team, Inversis is positioned as the only Spanish firm with an integrated value proposition combining management and administration services, custodian services, and fund distribution platform services, among others.

The investment by Euroclear is accompanied by a plan to drive Inversis’s business, including a significant increase in investment in technology and other areas versus the pre-transaction investment plans, as well as additional investment in human resources. Euroclear will increase its footprint in Southern Europe, particularly for its fund platform FundsPlace. Following the acquisition of an initial 49%, Euroclear will raise its stake in line with a binding timeframe until it reaches 100% ownership, as Banca March is committed to ensuring a gradual, orderly process to safeguard the interests of Inversis clients and employees.

Euroclear, a non-listed company headquartered in Brussels, is a leading global provider of post-trade services. Euroclear provides settlement and custody of domestic and cross-border securities for bonds, equities and derivatives, and investment funds, with approximately €40.7 trillion in assets under custody and over €1.16 quadrillion worth of annual securities transactions (year-end 2024). FundsPlace, a distribution platform for all types of funds (investment funds, ETFs, alternatives and private) manages assets worth €3.7 trillion and serves around 3,000 fund distributors and more than 2,500 asset managers in 85 countries.

With Euroclear as a shareholder, Inversis will strengthen the global expansion outside the Spanish market of its range of integrated investment and financial services outsourcing technology solutions for financial institutions, insurers and other players looking to operate in the investment product distribution business. The new shareholder will also support access to a larger, more international client profile.

Banca March has played a crucial role in growing Inversis

The opening of Inversis’s Luxembourg branch last May and the acquisition by Euroclear of a strategic 49% stake were the latest two major milestones in the growth strategy delivered by Banca March, which acquired 100% of the company from multiple shareholders in 2013. Since then, Inversis has been equipped with technology, human resources and other investments to expand its range of integrated asset distribution services for institutional clients and grow its global footprint.

In 2021, this growth was further supported by a €100 million strategic investment plan featuring four key lines of action: strengthen activity in Spain with new services for clients; drive global growth into new markets; inorganic growth through acquisitions that complement Inversis’ business; and technology transformation at all levels.

The Banca March Group’s investment philosophy: support growth and Good Governance

This investment was accompanied by a consistent improvement in Inversis’ key business figures; it closed 2024 with net profit of €26 million (up 16% versus 2023), revenues of €105 million (up 21%) and EBITDA of €46 million (up 29%), with an EBITDA margin of 44%. At the end of December 2024, the company had assets under custody of €124.5 billion.

The Banca March Group's investment philosophy, as well as strengthening its investee companies to support their growth, means applying the strictest Good Governance standards. To this end, the Inversis Board of Directors was restructured; it now has nine members, of whom seven are independent. Euroclear's newly-acquired stake will entitle it to appoint two board members, and Banca March will appoint one, with the majority continuing to be comprised by independent directors.

Global growth for Inversis

Following the growth strategy rolled out in recent years, Inversis is positioned as the only Spanish firm with an integrated value proposition combining management and administration services, custodian services, and fund distribution platform services. The distribution of all fund categories (investment funds, ETFs, alternatives and private funds) is one of the core pillars of the growth strategy in place at Euroclear, which in recent years has acquired MFEX and Goji and taken strategic stakes in Marketnode and IZNES. The investment by Belgian giant Euroclear puts Inversis in an optimal position to support Spanish, European and LatAm clients seeking to grow their portfolio of global products through vehicles domiciled in Luxembourg or to receive specialist securities services out of Luxembourg.

Inversis commenced operations at its Luxembourg branch last May after acquiring the institutional depository business unit of Banque Havilland. It had previously acquired, back in 2022, 40% of Adepa, a Luxembourg group specialising in the management and administration of investment vehicles. The acquisition of Openfinance in July also reinforced Inversis’s domestic and global product strategy.

Thanks to these transactions, Inversis has built an integrated product range aimed at financial institutions seeking to develop their own product ranges with vehicles domiciled in Luxembourg, or to access specialist services for financial instruments out of the Luxembourg market. Clients will therefore be able to access Adepa's services - either as a ManCo or as an administrator in the case of vehicles managed by other asset managers - and Inversis’s services, both as a depositary through its new Luxembourg branch, and through its investment fund distribution platform.

Banca March CEO José Luis Acea said: “As the sole shareholder of Inversis since 2013, Banca March has supported its growth strategy in accordance with the Group’s own investment philosophy, which aims to deliver stronger growth for investees under a good to better approach. Driven by the outstanding work of its team, Inversis has undergone exceptional development in recent years. Euroclear is the perfect investor to support Inversis in the next phase of growth and international expansion, as its investment meets the three conditions Banca March has always required of any acquisition offer: to continue to be a top-level service provider to the bank and other Inversis clients; to offer a strong future project for Inversis and its team, and to offer a valuation that takes into account its full potential.”

Inversis CEO Alberto del Cid said: “This transaction will integrate Inversis into Euroclear’s ecosystem and strengthen its position in the market, growing its international footprint. Likewise, the new investments planned for Inversis will allow it to grow its large clients business and export its model to other markets. Its current clients will also benefit from a broader value proposition across all areas of the company.”

Euroclear CEO Valérie Urbain said: “We are delighted to welcome Inversis into the Euroclear ecosystem. This acquisition is aligned with our strategy of accelerating our one-stop-shop fund platform, Euroclear FundsPlace, and growing our footprint in Southern Europe. Thanks to this partnership, Inversis clients will benefit from Euroclear’s international profile, its specialisation in the fund business and its proven track record as a European leader in Financial Market Infrastructure. We are looking forward to supporting Inversis in the next phase of its growth roadmap.”