The wealth management industry’s partner for global alternatives technology and solutions, S64, has finished its Series A funding round, including contributions from two well-known institutional investors: HPS Investment Partners and Sumitomo Mitsui Trust Bank.
S64‘s growth and expansion strategy will be expedited by the new financing and strategic alliances, which will also improve its proprietary technological platform and modern product manufacturing capabilities.
With this financing, the company will be able to meet the growing demand from individual investors looking to access a premier selection of international alternative investment possibilities.
The Series A funding followed its first seed investment, which was managed by AltamarCAM Partners (40% owned by Permira Growth Equity) and featured Pollen Street Capital and ACE & Company, among others, whose early and ongoing support has been integral to S64’s success.
Tarun Nagpal, founder, and CEO of S64, stated: “We are delighted to have the support of such esteemed investors as HPS Investment Partners and Sumitomo Mitsui Trust Bank. This funding round marks a significant milestone for S64, enabling us to continue to innovate and deliver private markets opportunities to the wealth management sector across Europe and Asia Pacific. The combination of our market-leading technology and product manufacturing capabilities, alongside the strategic support from our investors, puts us in an exceptional position for future growth and expansion.”
Tom Wasserman, managing director of HPS Investment Partners responsible for the firm’s strategic growth equity investments, added: “We are excited to partner with S64, a company with an outstanding team and compelling offerings to transform access to private market investments for wealth managers. We believe that S64 is well-positioned to capitalise on the growing demand for alternative investment solutions and look forward to supporting their journey and continued success.”
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By GlobalDataFutoshi Itani, head of Investor Services Business of Sumitomo Mitsui Trust Bank, commented: “Sumitomo Mitsui Trust Bank is delighted to participate in this investment round alongside HPS Investment Partners. As one of the largest institutional investors in the country, we offer gatekeeping services to major domestic institutional investors and maintain a broad network with domestic and overseas investment managers. We aim to leverage our asset management expertise and S64’s leading product solutions and technology platform to provide private assets, which were previously accessible only to major institutional investors, to small/middle institutional investors and individual investors in Japan. Through our strategic partnership, we will be able to solidify our global presence in private assets while also helping to enhance S64’s global presence.”
