Astorg is gearing up to sell fund services group IQ-EQ, with lenders already lining up around €2bn in financing. This move comes as private equity deal activity in Europe picks up, fueled by improving market sentiment. Astorg, which acquired IQ-EQ in 2016, is set to launch the sale process soon, attracting the attention of both traditional banks and private credit firms. Bankers are actively engaging with potential bidders to secure roles in the financing package, which is expected to be structured as euro-denominated leveraged loans.

The sale of IQ-EQ, which administers over $857bn in assets and employs more than 6,500 people globally, is poised to add to a growing pipeline of transactions in Europe. This anticipated activity reflects a strong outlook for M&A and leveraged finance in the region. With private credit firms showing keen interest, competition for financing roles is heating up. This development underscores the continued appeal of the European M&A market despite recent economic uncertainties.

IQ-EQ's extensive service offerings, including fund administration, compliance, and anti-money laundering consulting, make it an attractive target. The company's substantial asset base and global presence are likely to draw significant interest from potential buyers. As the sale process unfolds, both traditional lenders and private credit firms are positioning themselves to capitalize on what promises to be a lucrative transaction. This activity bodes well for the broader European M&A market, suggesting a robust year ahead.