Deutsche Boerse has agreed to buy fund distribution platform Allfunds Group for about €5.3bn ($6.2bn), one of Europe's largest financial infrastructure deals this year. The German exchange operator will pay €8.80 per share in cash and stock, plus a potential dividend. The transaction confirms earlier exclusive talks.

Allfunds, which administers €1.7tn in assets, provides fund managers with dealing, execution, and data services. The platform is a key intermediary in Europe's investment fund ecosystem. This move follows years of strategic interest, including a dropped €5.5bn bid from Euronext in 2023.

Private equity firms Hellman & Friedman and BNP Paribas, owning 49% of Allfunds, had previously paused sale talks, believing offers undervalued the company. Deutsche Boerse's successful bid underscores strategic buyers' willingness to pay premiums for data-rich assets that have long attracted private equity capital.