Euroclear, a financial market infrastructure group providing settlement, custody and fund services, has become Inversis’s majority shareholder after acquiring a further 41% stake from Banca March for €221m. Inversis is a Spanish provider of investment and fund-distribution services to institutional clients. The transaction raises Euroclear’s holding to 90%, following its initial acquisition of 49% for €172m in March 2025.
The deal is the second stage of the transaction announced in July 2024. Euroclear is expected to acquire Banca March’s remaining 10% stake within 18 months of the closing of this latest transaction, bringing its ownership of Inversis to 100%.
Building up the funds business
For Euroclear, the acquisition is part of a broader push to expand its European funds business. Inversis will strengthen Euroclear FundsPlace, combining its local presence, client relationships and distribution capabilities with Euroclear’s infrastructure and international network.
Euroclear says FundsPlace currently operates €4.6tn, connecting more than 3,000 distributors and 2,500 asset managers worldwide and providing access to around 250,000 funds. Fund distribution is expected to be the first area where the benefits of the combination become visible, through closer integration of Inversis with the FundsPlace ecosystem.
“This transaction is an important milestone in the execution of our funds strategy,” said Euroclear CEO Valérie Urbain. The group also expects Inversis to benefit from continued investment in technology, operational resilience, cybersecurity and scalability. Inversis will remain a distinct entity within the Euroclear Group and retain its existing portfolio of investment services, market presence and client relationships.
Luxembourg part of Inversis’s expansion
The transaction also brings an existing Luxembourg footprint further into Euroclear’s orbit. Inversis acquired a 40% stake in Luxembourg-based Adepa Group in 2022 and integrated Banque Havilland’s depositary business, representing €3bn in assets, in 2023. It then opened its Luxembourg branch in May 2024.
Inversis is now expected to serve as the platform for Euroclear’s Mediterranean strategy, supporting growth in Spain and Italy, where the company already has a representative office. For Euroclear, the acquisition strengthens its presence in Southern Europe and forms part of its stated ambition to support a more connected European investment ecosystem.
Banca March, the Spanish private and corporate bank that acquired Inversis in 2014, now retains a 10% stake but will maintain a strategic relationship with Euroclear after selling its remaining holding. The Spanish bank says the transaction should give Inversis greater international scale, access to larger institutional clients and the ability to take its business model into additional markets.
