Gen II Fund Services Secures Strategic Investment from General Atlantic, Hg and IHS Markit

Gen II Fund Services Acquires Crestbridge

July 12, 2023

Financial Services

Gen II Fund Services, LLC agreed to acquire Crestbridge, a European private capital fund administrator, expanding Gen II’s international footprint and product capabilities. The deal (signed July 2023) closed April 16, 2024, increasing Gen II’s assets under administration to over $1 trillion and creating a combined roster of roughly 1,700+ professionals across North America and Europe.

Gen II Fund Services Acquires Update Capital

March 14, 2022

Software

Gen II Fund Services has acquired Update Capital, a Vancouver-based provider of cloud-based investment management technology for the real estate asset class. The acquisition brings Update Capital’s product and its co-founder Ran Kohavi (who will join Gen II as Chief Product Technology Officer) into Gen II to strengthen the firm’s technology capabilities for alternative asset managers.

Hg Acquires Majority Stake in Fonds Finanz

December 10, 2021

Financial Services

Hg has made a majority investment in Fonds Finanz, a Munich-based tech-enabled financial intermediary pool serving insurance brokers, distributors and banks across Germany. The partnership will fund further technology investment, capability expansion into additional customer segments and potential add-on acquisitions to broaden Fonds Finanz's service offering.

American Securities Acquires Integrated Global Services, Inc. from J.F. Lehman & Company

March 6, 2025

Industrial Services

American Securities has acquired Integrated Global Services, Inc. (IGS) from investment affiliates of J.F. Lehman & Company. IGS, a Richmond, Virginia–headquartered provider of industrial surface-protection, asset integrity and environmental efficiency technologies serving power, energy and industrial markets, will partner with American Securities to accelerate growth and expand adoption of its proprietary solutions.

IQ-EQ Acquires JGM Fund Services

September 7, 2022

Financial Services

IQ-EQ, an Astorg‑backed global investor services group, has acquired JGM Fund Services, a U.S. provider of fund administration and tax services focused on real estate and private equity managers. The deal expands IQ‑EQ’s U.S. footprint and capabilities, growing its U.S. workforce and reinforcing its position in the alternative fund services market.

Hg Makes c.$1bn Strategic Investment in insightsoftware

July 13, 2021

Cloud & SaaS

Hg’s Saturn 2 Fund will make a c.$1bn equity investment in insightsoftware to become a significant minority shareholder alongside TA Associates, in a transaction valuing the business at an enterprise value of around $4.0bn. The investment will support insightsoftware’s continued scale as a cloud financial reporting and EPM platform, with existing minority shareholders Genstar and ST6 remaining supportive and TA and Hg sharing joint control.