Freshfields Bruckhaus Deringer has advised private equity house Warburg Pincus on its acquisition of a majority stake in Source Holdings Limited, a leading European exchange traded product (ETP) provider.

Source offers exposure to equity, commodity and fixed income benchmarks, through 77 products which account for more than US$14bn in assets under management. The existing investors, including Bank of America Merrill Lynch, Goldman Sachs, JPMorgan, Morgan Stanley and Nomura, will maintain significant minority stakes in the business.

The transaction, which will provide Source with new money to expand its product offering in Europe and to grow through acquisitions in other markets, is subject to regulatory approvals and is expected to complete in the second quarter of this year.

The Freshfields team was led by corporate partner Patrick Ko, assisted by fellow corporate partners Adrian Maguire and Matthew Herman.