Context

Astorg has successfully closed a €1.3bn dedicated continuation vehicle to acquire absolute majority control of IQ-EQ from its Fund V, marking the firm's first-ever continuation fund transaction. Following a heavily oversubscribed process managed by Lazard as exclusive financial advisor, Astorg secured a partnership with AlpInvest and Goldman Sachs Asset Management to lead this next development phase. To adequately capitalize this massive secondary operation, the deal structure includes substantial additional dry powder strictly engineered to fuel IQ-EQ's ambitious M&A roadmap and organic growth initiatives. This transaction allows the IQ-EQ leadership team and the Astorg deal team to make significant equity contributions, ensuring full alignment as the group aims to become the leading global firm in the investor services sector.

Target

IQ-EQ is a preeminent, independent global provider of comprehensive investor services. Operating across a vast international footprint, the enterprise delivers highly innovative, technology-enabled solutions meticulously tailored for specialized fund managers, multinational corporations, private wealth entities, and family offices. The firm manages a massive portfolio of assets under administration. Driven by strong structural market trends emphasizing the expansion of private markets and increasing administrative outsourcing, the group has successfully multiplied its operational scale. This phenomenal growth was achieved through a perfectly executed combination of robust organic momentum and a highly aggressive, successful international acquisition strategy, significantly broadening its service offering and digital sustainability-oriented capabilities.