TCorp acquires a minority interest in Euroclear

Sydney, Brussels, 12 December 2024 – TCorp and Euroclear today announce that TCorp has acquired a 4.92% interest in Euroclear Holding SA/NV from London Stock Exchange Group (LSEG).

The total value of TCorp’s investment in Euroclear – a Belgium-based global financial market infrastructure company – is €455 million ($AUD752 million).

Euroclear provides settlement and custody of domestic and cross-border securities for bonds, equities, derivatives and investment funds, as well as collateral management services. Euroclear serves around 2,400 financial institutions, which use its platform to access 50 different markets and settle transactions in 45 currencies. On their behalf, the group holds approximately €40 trillion of assets under custody and enabled 299 million netted transactions in 2023, worth an equivalent of €1,072 trillion.

TCorp is the investment and financial management partner of the New South Wales (NSW) public sector. It is a top 10 Australian investment manager, with $115 billion in assets under management.

TCorp’s Chief Investment Officer, Stewart Brentnall, said: “Euroclear is a foundational component of the world’s financial market infrastructure. This is a rare investment opportunity offering resilient returns and growth as well as portfolio diversity to our clients. We look forward to working with the board and management of Euroclear.’’

Valérie Urbain, Chief Executive Officer of Euroclear, commented: “We are delighted to welcome TCorp as a new shareholder. It is a sophisticated global investor with a long-term investment horizon and anchored in the APAC region. This aligns well to our strategic vision of long-term value creation through providing more liquid and stable markets for Europe and beyond.”

Francesco Vanni d'Archirafi, Chairman of Euroclear, added: "This is another important step in our transition from a user-owned model to one more oriented towards client centricity and long-term shareholder value creation. The Board and management team look forward to working closely with TCorp over the coming years.”

TCorp provides best-in-class investment management, financial management, solutions and advice to the New South Wales (NSW) public sector. With A$115 billion of assets under management, TCorp is a top 10 Australian investment manager and is the central borrowing authority of the state of NSW, with a balance sheet of A$187 billion. It is rated Aaa (Stable) by Moody’s, AAA (Stable) by Fitch and AA+ (Negative) by S&P.

Euroclear group is the financial industry’s trusted provider of post trade services. Guided by its purpose, Euroclear innovates to bring safety, efficiency and connections to financial markets for sustainable economic growth. Euroclear provides settlement and custody of domestic and cross-border securities for bonds, equities and derivatives and investment funds. As a proven, resilient capital market infrastructure, Euroclear is committed to delivering risk-mitigation, automation and efficiency at scale for its global client franchise. The Euroclear group comprises Euroclear Bank, the International CSD, as well as Euroclear Belgium, Euroclear Finland, Euroclear France, Euroclear Nederland, Euroclear Sweden, Euroclear UK & International.