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Gore’s Generation, Caisse Buy FNZ in $2.2 Billion Fintech Deal

Oct. 9, 2018, 2:44 PM

Al Gore’s Generation Investment Management LLP and Canadian pension fund Caisse de Depot et Placement du Quebec teamed up to acquire control of wealth-management services provider FNZ in one of the year’s largest fintech deals.

The acquisition of a two-thirds stake held by the private equity firms General Atlantic and HIG Capital values FNZ at about 1.65 billion pounds ($2.2 billion), according to a statement from the companies Oct. 9 that confirmed an earlier report by Bloomberg News.

The deal is the first investment to be made by a new partnership formed by Canada’s second-largest pension fund and the investment ...