M and A

Deals Of The Day: The Latest In Wealth Management M&A – Mintus, Eurobank

Editorial Staff 8 December 2023

Deals Of The Day: The Latest In Wealth Management M&A – Mintus, Eurobank

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. 

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