Private equity firm Montagu has completed its investment in Waystone, a provider of institutional governance, risk, and compliance services to the asset management industry, while Hg, a global software and services investor, is also joining as a strategic investor and joint shareholder in the firm.

Montagu first announced its investment in Waystone in July 2021. Hg’s investment is subject to regulatory approval and customary closing conditions.

Founded in 2000 and based in Dublin, Waystone serves clients with assets under management totalling more than USD1 trillion, delivering the tools and expertise to manage their governance and regulatory requirements, enabling them to focus on their core business. It has achieved global scale through a series of carefully planned acquisitions, and today provides an extensive range of services and solutions across multiple international jurisdictions.

Montagu and Hg will partner with the company’s strong management team, led by CEO Derek Delaney, to continue to grow and complement Waystone’s existing service offering while supporting further geographic and product expansion through targeted acquisitions.