Corsair Capital and Palamon Capital Partners to acquire Currencies Direct

iStock 000044718556 SmallEuropean growth investor Palamon Capital Partners and private equity investor Corsair Capital are to acquire foreign exchange (FX) and international payment solutions company Currencies Direct for a consideration exceeding £200 million (€283 million). Currencies Direct private FX business provides services to 150,000 registered retail clients. Its corporate FX business offers foreign exchange services to small medium enterprise (SME) clients for import/export-related activities across a variety of industries, including the e-commerce segment. Currencies Direct has established market presences in the UK, Continental Europe, Australia, South Africa and the US, and is well positioned to continue to expand internationally. The retail and SME FX market is worth over £3 billion in the UK alone. The chief executive of Currencies Direct, Keith Hatton, is pleased with the acquisition as it will provide the company with capital, experience and further global reach.  Daan Knottenbelt, partner of Palamon Capital Partners, says: “Currencies Direct’s proven business model, powered by its proprietary affiliate network, positions the company ideally to capitalise further on its strong momentum in this fast growing, dynamic sector.” ©2015 funds europe

Executive Interviews

INTERVIEW: Put your money where your mouth is

Jun 10, 2016

At Kempen Capital Management, they believe portfolio managers should invest in their own funds. David Stevenson talks to Lars Dijkstra, CIO of the €42 billion manager.

EXECUTIVE INTERVIEW: ‘Volatility is the name of the game’

May 13, 2016

Axa Investment Managers chief executive officer, Andrea Rossi, talks to David Stevenson about bringing all his firm’s subsidiaries under one name and the opportunities that a difficult market...


ROUNDTABLE: Beyond the hype

Oct 13, 2016

The use of smart beta investing continues to grow. Our panel, made up of both providers and users, discusses what the strategy actually means, how it should be used and the kind of pitfalls that may arise when using this innovative investment technique.

MIFID II ROUNDTABLE: Following the direction of travel

Sep 07, 2016

Fund management firms Aberdeen and HSBC Global meet with specialist providers to speak about how the industry is evolving towards MiFID II.