" class="no-js "lang="en-US"> Carne Secures €100 Million Growth Investment From Vitruvian Partners
Thursday, March 28, 2024

Carne Secures €100 Million Growth Investment From Vitruvian Partners

Carne Group (“the Group”, “Carne”), the digitally-driven platform for the asset management industry, today announces it has secured a €100 million investment from Vitruvian Partners. The investment will be used to expand Carne’s client-led technology solutions and will see Vitruvian Partners take a minority stake in the business. The investment is subject to regulatory approval.

Founded in 2004, Carne has grown to be the global leader of fund management solutions, including being the largest third-party fund management company in the world. Carne’s 350 employees in eight locations across the world manage the governance, compliance, regulatory, and substance requirements for more than 550 of the world’s leading asset managers and institutional investors. The Carne team continues to deliver new and innovative solutions creating a greater competitive advantage for clients, by making their risk and governance processes faster, better, and more cost-effective.

Carne’s industry-leading technology platform, CORR (Compliance Oversight Risk & Reporting), helps asset managers to fulfil their compliance, risk, and operational requirements with greater accuracy, efficiency, and effectiveness through automated data acquisition, analysis, and real-time reporting. It allows asset managers and institutional investors to not only meet their compliance and regulatory obligations in multiple jurisdictions but puts them in full control of their business, reputational, operational, and financial risks. CORR, Carne’s command, and control technology platform has seen rapid roll-out since launch and is already being used to oversee $2 trillion in assets.

John Donohoe, Founder and Group CEO, Carne, said: “At Carne, our goal is to provide asset managers and institutional investors with solutions that lead to better investor outcomes. We are focused on transforming the asset management industry through our proprietary CORR technology, hiring the best talent globally, and building client-led trusted solutions. In Vitruvian, we found a partner with a shared vision and the experience and intellectual capital to help us bring further innovation to the industry. Together we can build and deliver better outcomes resulting in a win-win for both asset managers and investors.”

Stephen Byrne, Partner, Vitruvian Partners, added: “We look for capital investment opportunities that are redefining industries, and this is exactly what attracted us to Carne. Its ability to grow into a globally trusted brand within an industry valued at over $110 trillion is a testament to its business model and the strength and expertise of the management team. We have partnered with Carne to support the roll-out of their CORR technology platform, through which Carne brings much-needed innovation and digitalization to the asset management sector. Our investment and partnership will enable Carne to further accelerate ongoing developments of leading technology-enabled products and services, as well as global scaling of their platform. We look forward to partnering with John and the team as Carne continues its growth to meet the future needs of its clients and end investors.”

Carne was advised by Stephens Europe, Deloitte, and Matheson in the transaction. Vitruvian Partners was advised by KPMG Ireland Corporate Finance, EY, PwC, Oliver Wyman, and Dickson Minto

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