ZEDRA Announces Close of Strategic Minority Investment from BCI

24 May 2023

ZEDRA today announces the successful close of a strategic minority investment from British Columbia Investment Management Corporation (“BCI”), one of Canada’s largest institutional investors.

This investment, which was announced in March 2022, has been approved by all relevant authorities.

Corsair, the Company’s existing majority investor, will remain the lead shareholder following the transaction. This new investment will not affect the ongoing operations of ZEDRA, whose management team will continue to hold a significant shareholding in the company.

With this additional investment, and the continued support of Corsair, ZEDRA is better positioned to further expand its global footprint and enhance its offerings to clients.

Bart Deconinck, Executive Chairman at ZEDRA, said: “We are excited to officially bring on board BCI as an investor to support and accelerate ZEDRA’s plans for global sustainable growth. The senior management teams across ZEDRA, Corsair and BCI have a shared vision for the future of the Company, and we feel strongly that this partnership will further our ability to provide unparalleled, high-quality service to our clients’ evolving needs.”

Raja Hadji-Touma, Partner at Corsair, said: “We are delighted to announce the close of this transaction and formally welcome BCI as an investor in ZEDRA. As majority shareholder since 2020, we are proud of the work we have accomplished in supporting the rapid growth of the Company and believe the successful closing of this strategic investment speaks to Corsair’s unique ability to operate and execute within highly regulated industries.”

Jim Pittman, Executive Vice President & Global Head, Private Equity at BCI, said: “ZEDRA has successfully built a strong, global franchise in recent years. We continue to be impressed with the business’ growth and approach to expansion through numerous strategic acquisitions. As we expand BCI’s presence across Europe, we see the completion of this investment as a significant milestone. The corporate services, active wealth, pensions and fund solutions sector remains a core area of focus for BCI, and we look forward to generating attractive returns for our pension plan and insurance fund clients through this investment.”

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About BCI

British Columbia Investment Management Corporation (BCI) is amongst the largest institutional investors in Canada with C$211.1 billion under management, as of March 31, 2022. Based in Victoria, British Columbia, with offices in New York City and Vancouver, BCI is invested in: fixed income and private debt; public and private equity; infrastructure and renewable resources; as well as real estate equity and real estate debt. With our global outlook, we seek investment opportunities that convert savings into productive capital that will meet our clients’ risk and return requirements over time.

BCI’s private equity program actively manages a C$24.8 billion global portfolio of privately-held companies and funds with the potential for long-term growth and value creation. Leveraging our sector-focused teams in business services, consumer, financial services, healthcare, industrials, and technology, media and telecommunications, we work with strategic private equity partners to source and manage direct and co-sponsor/co-investment opportunities.

For more information, please visit https://www.bci.ca/.

LinkedIn: https://www.linkedin.com/company/british-columbia-investment-management-corporation-bci/

About Corsair

Corsair is a specialist investment firm offering opportunities for investors and solutions for companies across its private markets Buyouts and Infrastructure platforms. The firm’s buyouts business is a financial services investor focused on making control investments in three verticals: Payments, Software & Business Services. The infrastructure business focuses on core plus and value-added opportunities, and blends operating platforms, deep sector expertise, and traditional equity sponsorship. Corsair has invested $9.4 billion in capital across buyouts and $4.4 billion in capital across infrastructure since inception. For more information please visit https://corsair-capital.com/.

Media Contacts


Jamie Brownlee / Eleonore Basle
+44 783 457 1183
[email protected]


Olga Petrycki
Director, External Stakeholder Engagement, BCI
[email protected]


Alex Nye / Peter Gavaris
Prosek Partners
[email protected]