Private equity firm GTCR has completed the previously announced acquisitions of Ultimus Fund Solutions and The Gemini Companies in a strategic combination.
The combined company, which will operate as Ultimus Fund Solutions, is a provider of full service fund administration, accounting and investor solutions to traditional and alternative fund managers. On behalf of its clients, the combined company services approximately USD150 billion of assets under administration and over 840 total funds.
Ultimus and Gemini have both been innovators in comprehensive and customised middle and back-office solutions that help fund managers and investors. The companies’ solutions are differentiated by proficiencies in innovative fund strategies, industry leading technology, highly automated processes, and best-in-class, engaged client service. The combination creates the largest independent institutional strength firm providing these solutions with enhanced scale, broader product offerings and significant technological capabilities to service fund managers.
GTCR will work with the combined company’s management team, led by CEO Gary Tenkman (pictured), to execute the integration of Ultimus and Gemini. In addition, GTCR and management will continue to invest in technology and further expand product offerings and solutions for clients.
Latham & Watkins advised GTCR on the acquisitions. Broadhaven Capital Partners served as financial advisor to GTCR. Raymond James & Associates served as financial advisor to Gemini.
$2bn tech-focused hedge fund SoMa Equity Partners to shutter
San Francisco-based hedge fund SoMa Equity Partners is winding down after returning capital to investors, bringing the curtain down on a…
More
Arcana hires former Goldman Sachs exec to Lead EMEA expansion
Portfolio intelligence provider Arcana has appointed former Goldman Sachs executive Rhys Williams as head of EMEA, as the technology firm…
More
ExodusPoint adds Pictet trader to London equities team
Multi-strategy hedge fund major ExodusPoint Capital Management has strengthened its London equities operation with the appointment of Jade…
More