FIMALAC
| Société Anonyme | |
| Traded as | Euronext: FIM |
| Industry | Financial services, Investment management |
| Founded | 1991 |
| Headquarters | Paris, France |
Key people | Marc Ladreit de Lacharrière (Founder and CEO) |
| Products |
Credit ratings, Commercial real estate, Private equity fund |
| Subsidiaries |
Fitch Ratings (20%), North Colonnade Ltd, Fimalac Développement |
| Website |
www |
FIMALAC (known as Financière Marc de Lacharrière) is a French holding company focusing on credit rating and risk management companies.[1][2][3] It operates in three business areas, credit ratings where it owns 20% of Fitch Group the third largest ratings agency, commercial real estate through North Colonnade Ltd and private equity fund through its subsidiary Fimalac Développement.
History
FIMALAC was created by Marc Ladreit de Lacharrière in 1991.[4] He serves as the CEO,[3] and holds 100% of the shares of the FIMALAC Group, that holds ~80% of FIMALAC.[5] It is headquartered in Paris.[1][2][3] It operates in the United States, Canada, the United Kingdom, France and other members of the European Union, Asia, and South America.[1]
In 2005, FIMALAC acquired Algorithmics Inc.,[6] which it sold to IBM in October 2011.
In 2011, it acquired 40% of Groupe Lucien Barrière.[6]
Divisions
- Fimalac now owns 20% of Fitch Group after it had sold 30% to the Hearst Corporation for €1,875 million. The deal was announced in December 2014 and completed in March 2015[7] after obtaining all the necessary regulatory and administrative authorizations. Hearst Corporation thus now owns 80% of the Fitch Group which is a major financial services player with a strong presence in the ratings market. Fitch Group reported revenue of €545.0 million in 2010/2011.
- Fimalac also operates in the real estate sector, mainly through North Colonnade Ltd. North Colonnade owns a major office building project in the prestigious Canary Wharf district of London set to open in 2018. Part of the building will be occupied by Fitch Group. This 320,000 sq ft property is expected to generate recurring revenues for Fimalac over a long period.
- Fimalac also owns diversified investment portfolio through its Fimalac Développement subsidiary. The private equity fund acquires stakes in competitive companies with growth potential. Fimalac owns stakes in companies such as Stadôme, Auguri Productions, and a 34% interest in Groupe Lucien Barrière from Accor.[8]
References
- 1 2 3 BusinessWeek profile
- 1 2 Bloomerg profile
- 1 2 3 Les Echos profile
- ↑ Lacharrière : «Finance et culture sont complémentaires», in L'Express, 05/10/2007
- ↑ Organizational chart of the Fimalac Group
- 1 2 Official website recent news
- ↑ FIMALAC : Fimalac finalise la vente de 30% de Fitch à Hearst pour $1,99 md, in "Les Echos", 12/03/2015
- ↑ http://www.fimalac.com/regulated-information.html FIMALAC Investor Relations