3i invests EUR37m to support KNEIP’s growth

3i’s investment will allow KNEIP to increase its service offering and expand its geographical reach allowing it to build on its wide customer base, robust delivery platform and strong management team, and establish itself as a significant outsourcing player of differentiated capability and scale in the European Fund Management industry. 3i will support the development of KNEIP’s outsourcing offering through its wider BPO (‘business process outsourcing’) network and experience. Akshaya Bhargava joins the business as a non-executive director.

Bob Kneip, CEO of KNEIP, comments: ‘We have built KNEIP into the market leader it is today. We are excited about the opportunity to develop on this foundation and expand our existing services as well as offer new ones. 3i shares our vision for growing the business and is uniquely placed to support this growth through its in-depth knowledge of BPO and its extensive understanding of the financial services industry.’

Bruce Keith, Director 3i Growth Capital, adds: "KNEIP has exactly what we look for in the BPO sector.  Its knowledge and technology intensive platform provides a great customer offering, the team is terrific and the market, the European fund management industry, is growing strongly. We are very proud to add KNEIP to our growing list of BPO investments across the world."

KNEIP acts as an administrative agent for fund administrators, fund promoters and asset management companies, ensuring the timely, efficient and accurate transmission of their dynamic and static fund data. As the trusted international partner for more than 9,000 funds and sub-funds from 16 jurisdictions, KNEIP manages information flows to over 1,200 information channels in 44 countries worldwide. By mandating KNEIP to handle their information flows, fund companies are free to allocate valuable resources to their core businesses.