Cinven becomes new IFGL majority investor
23 Jan 2023
Cinven has become Friends Provident International Limited owner International Financial Group Limited (IFGL’s) majority investor.
The deal, which was announced last year and sees the international private equity firm succeed Vitruvian Partners, has now received regulatory approval.
Cinven has a strong track-record of investing in companies who want to step-change their growth.
IFGL’s Group Chief Executive David Kneeshaw said: ‘Completing this deal means that IFGL is now ready to accelerate our ambitious plans for growth. Cinven have significant expertise in the financial services sector and share our vision for the future. Their financial backing means we are ideally-placed to expand significantly through both organic and new market growth and through further mergers and acquisition activity.’
David Kneeshaw, Chief Executive Officer