Evli expands its fund offering by acquiring the majority of Zenito Oy
EVLI PLC INSIDE INFORMATION, NOVEMBER 15, 2023, AT 10:00 AM (EET/EEST)
Evli Plc has today, on November 15, 2023, signed an agreement to acquire a majority stake in the Finnish investment service company Zenito Oy. According to the agreement, Evli will purchase approximately 67 percent of Zenito Oy's shares. The remaining, about 33 percent of the shares, will be retained by the company's founders.
Zenito Oy is a Finnish investment service company, whose specialized and active investment strategies have produced top results in their comparison groups. The product offering includes investment funds that are among the best in their international asset classes, including, the investment funds Fourton Hannibal, Zenito UK Value Fund, and the only precious metal mining fund in the Finnish investment market Zenito Silver and Gold. In addition to asset management services, Zenito Oy also publishes Zenostock.com, a web service specializing in finding and researching affordable listed companies.
"Zenito has a highly experienced team and high-quality products. We are pleased to welcome the company's employees to Evli," Maunu Lehtimäki, CEO of Evli comments. "The acquisition is a logical next step in Evli's strategic goal to become a leading Nordic wealth manager. The acquisition combines the expertise and resources of both companies, enabling a broader range of investment products for our clients."
"Collaboration with Evli perfectly meets the goals of our company: even better service for our clients, administrative assistance from Evli, and more time to focus on our core task, portfolio management. We appreciate Evli's long-term and successful focus on active investment strategies in particular,” says Zenito's founder and CEO, Petter Langenskiöld.
The completion of the transaction is subject to approval by the Financial Supervisory Authority.
From the client's point of view, services will continue as before. With the completion of the transaction, clients will have access to an even more comprehensive range of products and services.
EVLI PLC
Additional information:
Maunu Lehtimäki, CEO, Evli Plc, tel. +358 50 553 3000, maunu.lehtimaki@evli.com
Evli Plc
We see wealth as an engine to drive sustainable progress. We draw on our heritage, broad expertise, and Nordic values to grow and manage wealth for institutions, corporations and private persons in a responsible way.
We are the best fund house in the Nordics1 and the leading asset manager in Finland2 offering a broad range of services including mutual funds, asset management and capital markets services, alternative investment products, equity research, share plan design and administration as well as Corporate Finance services. Responsible investing is integrated in every investment decision and our expertise is widely acknowledged by our clients. Evli has Finland's best expertise in responsible investment3.
Evli Group employs around 300 professionals and Evli has approximately EUR 17.1 billion in client assets under management (net 9/2023). Evli Plc’s B shares are listed on Nasdaq Helsinki Ltd.
1 Lipper Fund Awards 2023.
2 Morningstar Awards 2023 (c). Morningstar, Inc. All Rights Reserved. Awarded to Evli for the Best Fund House in Finland. Kantar Prospera External Asset Management Finland 2015, 2016, 2017, 2018, 2019, 2021, 2022, 2023. Kantar Prospera Private Banking 2019, 2020 Finland.
3 SFR Scandinavian Financial Research Institutional Investment Services Finland 2021, 2022. Kantar Prospera External Asset Management Finland 2023.
Distribution: Nasdaq Helsinki, main media, www.evli.com