Last checked at 28 Jun 2021 07:00
The information contained in this announcement is restricted and is not for publication, release or distribution in the United States of America, any member state of the European Economic Area, Canada, Australia, Japan or the Republic of South Africa.
28 June 2021
Chrysalis Investments Limited ("Chrysalis" or the "Company")
Portfolio Update
The Company is pleased to announce an investment of £75 million in Smart Pension Limited ("Smart"). The investment forms part of a £165 million Series D funding round and includes £110 million of newly issued primary capital and £55 million of secondary equity acquired from existing shareholders of Smart. Chrysalis, which will be providing primary capital, will join a pool of well-established investors in Smart, including Legal & General, J.P. Morgan, the Link Group, Barclays and Natixis Investment Managers, all of whom are considered strategic investors by Smart.
The investment by Chrysalis will enable Smart to grow its retirement technology platform offering in the UK, the US, Australia and the Middle East, with additional territories to follow.
Richard Watts and Nick Williamson (co-portfolio managers) comment:
"Smart is an innovator and is building its position as the leading retirement technology platform provider globally. In just a few years, it has disrupted the retirement savings industry, working with some of the world's most well-known financial services providers to create a better way to save toward retirement, and access funds during retirement.
The world has changed. Just as companies like Wise and Klarna add huge benefits to their users via best-in-class financial technology, Smart offers user experience and technology to transform retirement for savers around the world. What Smart has achieved in the last 12 months alone was a real catalyst for our support, and we believe that together we can help Andrew and Will achieve their global ambitions."
About Smart Pension Limited
Smart is a global savings and investments technology platform provider and was founded in 2014 by Andrew Evans and Will Wynne. Its mission is to transform retirement, savings and financial well-being around the world.
Smart partners with governments and financial institutions (including insurers, asset managers, banks, financial advisers) to deliver retirement savings and income solutions that are digital, bespoke and cost efficient. Smart's focus is on the workplace pension market, and it helps employers to offer, typically government mandated, pensions schemes in an efficient manner to their employees. In the UK, it operates one of the biggest master trusts. Smart's technology also helps employees effectively and easily manage their pension pot via an app.
In addition to the UK, Smart is operating in the USA, Europe, Australia and the Middle East with close to a million savers entrusting over £1.7 billion in assets on the platform. Smart supports its clients with a 550 strong global team and saw 160% growth in assets on its technology platform in 2020.
-ENDS-
For further information, please contact:
Media: Montfort Communications Charlotte McMullen/ Toto Reissland-Burghart/ Miles McKechnie
|
+44 (0) 20 3770 7920 chrysalis@montfort.london
|
Jupiter Asset Management: Magnus Spence
| +44 (0) 20 3817 1325 |
Liberum: Chris Clarke / Darren Vickers / Owen Matthews
| +44 (0) 20 3100 2000 |
Numis: Nathan Brown/ Matt Goss
| +44 (0) 20 7260 1000 |
Maitland Administration (Guernsey) Limited: Elaine Smeja / Aimee Gontier | +44 (0) 1481 749364 |
LEI: 213800F9SQ753JQHSW24
A copy of this announcement will be available on the Company's website at
https://www.jupiteram.com/uk/en/professional/chrysalis-investments-limited/
The information contained in this announcement regarding the Company's investments has been provided by the relevant underlying portfolio company and has not been independently verified by the Company. The information contained herein is unaudited.
This announcement is for information purposes only and is not an offer to invest. All investments are subject to risk. Past performance is no guarantee of future returns. Prospective investors are advised to seek expert legal, financial, tax and other professional advice before making any investment decision. The value of investments may fluctuate. Results achieved in the past are no guarantee of future results. Neither the content of the Company's website, nor the content on any website accessible from hyperlinks on its website for any other website, is incorporated into, or forms part of, this announcement nor, unless previously published by means of a recognised information service, should any such content be relied upon in reaching a decision as to whether or not to acquire, continue to hold, or dispose of, securities in the Company.