ACE & Company secures FINMA certification; and gains external financing to fuel growth.
PRESS RELEASE - Geneva, 19th April 2017: Swiss-founded global private equity boutique, ACE & Company S.A. (“ACE” or “the Company”), announced today that it has formally received an “Asset Manager of Collective Investment Schemes” license from FINMA, the Swiss Financial Market Supervisory Authority. ACE is the first independent global private equity firm to approach FINMA and be granted an Asset Manager license. In addition, the Company has also recently secured a round of external financing to not only fuel its strategic growth but also to act as a reserve to weather economic uncertainty. This is the first significant capital increase for the Company, founded in 2005, which has grown organically at a 50% compounded annual growth rate (CAGR) from $50 million (2012) to $550 million (2017).
FINMA is the Swiss government body in charge of financial regulation. FINMA’s mandate includes supervision of financial institutions, including banks, collective investment schemes, asset managers and fund management companies. It is in particularly charged with protecting creditors, investors and policy holders. While it was not obligatory for the Company to be certified by FINMA until reaching $500 million of assets under management, ACE voluntarily sought a license in 2014 before reaching this threshold to ensure its financial stability, the rigor of its investment methodologies, the professionalism of its staff and its comprehensive processes and structures. “We are very proud to be licensed by FINMA which reflects the robustness of our internal structures and professionalism of our team” confirmed CIO, Tarik Habib.
Commenting on the addition of new investor groups as part of its shareholder base, Sally Beh, CFO of ACE stated: “The new investor groups hail from a variety of sectors. Our expanding investor and shareholder base is a sign of their confidence in the Company’s strategy and execution capabilities. This new financial and strategic alliance will support management’s long term vision to be a global private equity leader in Switzerland, and to continue our steady growth trajectory.”
Over the coming years, ACE plans to continue its strategic expansion. In 2017, the Company formally launched their New York operations, augmenting its existing presence in Geneva, Cairo, Hong Kong and London.
Adam Said, CEO of ACE, commented: “We have a clear vision for the direction of our business and foothold in the growing private equity market. Having delivered double-digit returns and growing ten-fold over the last five years, the Company is well underway to reaching its continued growth objectives”.\
About ACE & Company
ACE & Company, founded in 2005, is a global private equity boutique specialized in direct investments with total assets of over $550m under management across 12 investment vehicles as of December 31, 2016. By combining in-house team capabilities with those of our partners, ACE is able to source, provide due diligence, and execute on superior investment opportunities in various regions around the world. ACE’s collaborative approach allows for a more efficient diversification across the different investment stages of private companies globally and provides investors a flexible investment platform. ACE aims to actively improve investment returns by adding strategic value to both its portfolio companies and sourcing partners by leveraging its broad investment knowledge.