S64, the global alternatives fintech and solutions partner to the wealth management industry, today announced the successful close of its Series A funding round which includes investments from HPS Investment Partners and Sumitomo Mitsui Trust Bank, two prominent institutional investors.
The new capital and strategic partnerships will accelerate S64’s growth and expansion strategy, enhancing its cutting-edge product manufacturing capabilities and proprietary technology platform. This investment will support the firm’s ambition to unlock rising demand from private investors seeking access to a leading range of global alternative investment opportunities.
Tarun Nagpal, Founder and CEO of S64, said: “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, said: “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 capitalize on the growing demand for alternative investment solutions and look forward to supporting their journey and continued success.”
Futoshi Itani, Head of Investor Services Business of Sumitomo Mitsui Trust Bank, added: “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.”
The Series A funding follows the original seed investment which was led by AltamarCAM Partners (40 per cent owned by Permira growth equity) and included Pollen Street Capital and ACE & Company, amongst others, whose early and continuing support has been instrumental in S64’s journey.
About S64:
S64 Ventures Limited (“S64”) is a leading global alternatives and technology solutions business bridging the opportunity for wealth investors in private markets. It works with world-class asset managers and private banks across private equity, credit, real estate, infrastructure, and impact investments to develop innovative solutions for wealth managers. S64’s state of the art technology platform offers full lifecycle management of alternative assets — from structuring and distribution to financing and secondary market capabilities, meeting complex regulatory and cross-border jurisdictional requirements across Europe and Asia. Trusted to deliver market-leading technology and products, S64 supports the world’s leading GPs, asset managers and private banks.
About HPS Investment Partners:
HPS Investment Partners, LLC is a leading global, credit-focused alternative investment firm that seeks to provide creative capital solutions and generate attractive risk-adjusted returns for our clients. We manage various strategies across the capital structure, including privately negotiated senior debt; privately negotiated junior capital solutions in debt, preferred and equity formats; liquid credit including syndicated leveraged loans, collateralized loan obligations and high yield bonds; asset-based finance and real estate. The scale and breadth of our platform offers the flexibility to invest in companies large and small, through standard or customized solutions. At our core, we share a common thread of intellectual rigor and discipline that enables us to create value for our clients, who have entrusted us with approximately $116 billion of assets under management as of May 2024.
About Sumitomo Mitsui Trust Bank:
Sumitomo Mitsui Trust Holdings, Inc. is the only listed trust bank group in Japan. Sumitomo Mitsui Trust Group (“SuMi TRUST Group”) excels in numerous trust-related business areas such as asset management and wealth management, and collectively holds one of the largest asset under custody and asset under management in Asia. With a diverse client base ranging from pension funds to financial institutions, SuMi TRUST Group offers a wide range of investment products, including alternative assets.
Sumitomo Mitsui Trust Bank, Limited forms the core of SuMi TRUST Group with one of the largest businesses in most of the major trust and banking business areas.
