Revolut is building a team to enter the private equity market. What does this mean?
London-based fintech company Revolut has begun assembling a team to work in the private equity market: the service is looking to expand its lineup of services in the wealth management segment, Bloomberg reports.
The company is looking for entry-level investment bankers, asset managers and private equity advisors. The new hires will develop products to invest in private market funds and build relationships with fund managers "across the entire private equity ecosystem," the publication says.
Revolut declined to comment to the agency.
What does that mean?
The formation of the team comes as private markets have grown significantly in both scale and importance, Bloomberg wrote. Some of the world's largest exchanges are looking to launch new futures and options tied to the fast-growing $16 trillion private asset market, the agency noted.
But the industry is increasingly concerned about "overheating" and heightened risks in parts of the private market due to soaring asset valuations, limited regulation and macroeconomic pressures, Bloomberg added.
Revolut, which has nearly 70 million users, already offers trading in U.S. and European stocks on its app, and after receiving a U.K. brokerage license in November 2024, it will launch trading in shares of leading British companies, Bloomberg reports.
This article was AI-translated and verified by a human editor
