Empaxis Data Management, a provider of back office services for independent investment advisers, has completed its management-led buyout from Aspiriant. 

Terms of the deal were not disclosed.

Empaxis administers over USD20bn in assets for some of America’s largest multi-family offices, wealth managers and hedge funds. Its headquarters are in El Segundo and its operations centre is in India.

The firm offers daily administration services including custodian reconciliation, performance reporting, billing and IT services.

Stephen Van de Wetering, founder and chief executive, and Doug Moromisato, chief operating officer, will continue to lead the company. Empaxis’ operations, systems, service levels and product mix will remain the same.

“Empaxis is well positioned as an independent entity to continue providing our superior, customised back office solutions to investment advisers,” says Van de Wetering. “Rob Francais, Marc Primiani and the Aspiriant team were instrumental launching Empaxis. All of us at Empaxis are grateful for the support they have given us over the years and wish them the best.”