Global

Valad to phase out name

MIPIM 2016: Valad Europe is to phase out its name over the course of this year.

The fund management firm is to steadily bring in the name Cromwell, following its takeover by the Sydney-listed firm at the start of last year. The move is designed to make the company more straightforward to understand for its global investor base and partners.

Valad Europe originated out of Valad, which was bought in 2011 by Blackstone. At the time Valad was a distressed business and as a result, despite its success in Europe, the Valad name carries some negative connotations in Australia.

Through Cromwell’s relationships with retail investors in Australia and South Africa it is now aiming to further fuel the growth of the €5bn (£4bn) European business with the launch of new fund products.

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