The partnership links fundcraft’s regulated infrastructure, it holds a CSSF licence as an AIFM and central administrator in Luxembourg and operates an AMF-authorised portfolio management company in France, with Stella’s network of approximately 500 wealth advisers, private banks and family offices, including CGPs, independent financial advisers and single and multi-family offices. Stella’s platform is being connected to fundcraft’s fund operations infrastructure ahead of the first launch.
The strategic logic rests on a structural shift in private markets distribution. According to figures cited by BlackRock and referenced in the announcement, more than two-thirds of EMEA wealth investors currently allocate only 0–5% of their portfolios to private markets. Allocations from high-net-worth and affluent investors are projected to more than double by 2030, with over 70% of EMEA wealth investors expected to hold between 5% and 20% in the asset class by that point.
That growth trajectory creates a meaningful operational challenge. Institutional private markets strategies were built for a relatively small number of large investors, concentrated reporting relationships and a single domicile. Routing the same strategies through wealth channels means accommodating higher investor volumes, smaller ticket sizes, multiple distribution partners, unit-linked life insurance wrappers and differing regulatory requirements across markets. Each of those variables adds complexity to onboarding, subscriptions, transfer agency and reporting.
Thomas Ibanez , country head France at fundcraft, said: “More investors, more distribution relationships and more jurisdictions quickly multiply the operational complexity. Stella understands that channel and has built a strong network around it, while fundcraft provides the regulated and digital infrastructure behind the funds.
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