M and A
Deals Of The Day: The Latest In Wealth Management M&A – Mintus, Eurobank
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The latest mergers, acquisitions and corporate actions in the wealth management sector.
Eurobank, Mintus
Eurobank Asset Management MFMC, part of Greece’s Eurobank, has bought a
minority stake in Mintus Global, one of
a number of platforms providing access to art and alternative
assets.
The financial size of Eurobank’s minority stake was not
disclosed.
Eurobank will combine its expertise across alternatives with
Mintus’ tech solutions offered through a fractionalised
alternative asset platform operated by its UK-regulated
subsidiary, Mintus Trading.
“Our investment in Mintus underscores Eurobank Asset Management
’s commitment to harnessing breakthrough technology to benefit
our clients,” Theofanis Mylonas, chief executive of Eurobank
Asset Management MFMC, said.
Their move took place amid continued demand for alternative
investments such as private equity, credit, and venture capital,
the firms said. In the art market, this is a specialised space
that purports to offer alternative sources of return. Research
firm Preqin has estimatesd that alternative assets under
management will reach $24.5 trillion by 2028 up from $13.7 in
2021. EY research found that the percentage of alternative
allocation within portfolios increased with net worth, from
14 per cent for the mass affluent to 81 per cent for ultra-high
net worth individuals. Debate remains on how uncorrelated such
investments are and parts of the sector have been buffeted by the
rise in interest rates in the past two years.
“The investment of Eurobank Asset Management in Mintus is a sign
that the art market is evolving and a testament to the growing
acceptance of shared art ownership,” Brett Gorvy, chief curator,
and chairman of the Investment Mintus’ Art Committee, said. “A
more inclusive, democratised art market will benefit both
investors and artists in the future.”
A number of platforms of different types, such as CAIS, Moonfare
and iCapital, have taken root in recent years to widen access to
alternative investments.