HANetf secures minority investment from Citi to accelerate platform expansion
Citi joins existing backers to support the white-label ETF platform as assets under management reach record highs.
HANetf operates a white-label ETF and ETC platform that helps asset managers launch and manage UCITS exchange-traded funds in Europe. The profitable firm provides operational, regulatory, and distribution infrastructure for financial institutions.
HANetf has secured a minority equity investment from Citi to support its ongoing expansion as assets under management reach record highs. The funding will enable the platform to increase its capacity and infrastructure ahead of expected new fund launches. Citi joins existing backers including Elkstone, Point72 Ventures, and ThirdStream Partners on the company cap table.
The firm has experienced rapid growth over the past year, with assets under management nearly doubling to $7.7bn. The fresh capital will be directed towards building out its Irish Manco and MIFID firms, as well as preparing for an influx of traditional active managers entering the European exchange-traded fund market.
From the founder
"Citi’s investment is a landmark moment for HANetf. It demonstrates the strength of our expertise, the growth of ETF white-labelling, and in HANetf’s importance within the European ETF ecosystem. We’ve always believed that ETF white labelling would become a core part of the asset management and servicing ecosystem as it has done so before within the broader funds industry. We’re proud to add Citi to our cap table alongside other high-quality institutional investors such as Point72, Elkstone, and ThirdStream, who have been investors in HANetf since 2017. We are already reinvesting the profits from our growth and this investment will allow us to exponentially grow the capabilities of our own platform sooner, in order to build out HANetf’s capacity as more clients continue to choose HANetf to launch ETFs ahead other ETF launch options."
Hector McNeil
Co-Founder and Co-CEO at HANetf
Investor perspective
"Investing in, and collaborating with HANetf, rounds out our end-to-end ETF capabilities and sets us apart. As the only global organisation that can deliver an entire ETF ecosystem around the aspiring Issuer, we provide a seamless operational connectivity for our large asset manager clients looking to launch ETFs in Europe, and can now draw upon HANetf’s expertise, to deliver a best of all world’s solution."
Andrew Jamieson
Global Head of ETF Product and Citi Velocity ETFs, Citi
Use of funds
- 01Build out infrastructure
- 02Scale operations