GTCR and Stone Point Capital Acquire Ultimus Fund Solutions

Ultimus Fund Solutions Acquires FD Fund Administration

December 16, 2021

Financial Services

Ultimus Fund Solutions acquired FD Fund Administration and will merge the FD team into its private fund business unit, Ultimus LeverPoint Private Fund Solutions. The transaction, backed by private equity firm GTCR and closed December 15, 2021, expands Ultimus' private fund administration scale, geographic footprint and capabilities across real estate, credit and infrastructure funds.

Stone Point Capital and GIC to Acquire Ascensus from Genstar, Aquiline and Atlas Merchant Capital

April 26, 2021

Financial Services

Funds managed by Stone Point Capital and GIC have agreed to acquire Ascensus from a private-equity group led by Genstar Capital, Aquiline Capital Partners, and Atlas Merchant Capital. Genstar and Aquiline will retain minority stakes; the transaction is expected to close in Q3 2021 pending regulatory approvals and customary conditions.

GTCR Acquires Foundation Source from Incline Equity Partners

September 13, 2023

Wealth Management

GTCR, a Chicago-based private equity firm, has acquired Foundation Source, the nation’s largest provider of foundation management services, from Incline Equity Partners. GTCR is partnering with wealth-technology veteran Joseph Mrak III as CEO and has committed capital to invest in technology enhancements, acquisitions and organic growth to expand Foundation Source’s product offerings and channel partnerships.

Apse Capital Continuation Fund (Led by J.P. Morgan) Acquires TerraQuest, Kallidus and Ultima Business Solutions

November 27, 2024

Software

Apse Capital closed a €350 million continuation fund led by J.P. Morgan Asset Management to acquire three existing portfolio companies — TerraQuest, Kallidus and Ultima Business Solutions — from the Apse Capital Bridge Fund. The vehicle will provide follow-on capital to support organic growth and strategic M&A activity across the businesses; Piper Sandler (Aviditi Advisors) and legal advisers Weil and DLA Piper served on the transaction.

Stone Point Capital Makes Minority Growth Investment in IEQ Capital

January 19, 2023

Financial Services

Stone Point Capital made a minority growth investment in IEQ Capital to support the wealth management firm's continued organic growth, technology and infrastructure investments, and national expansion. The partnership deepens an existing lending relationship and is intended to accelerate IEQ's platform and family office service offerings.

Atria Wealth Solutions Acquires Grove Point Financial

September 5, 2023

Financial Services

Atria Wealth Solutions has completed the acquisition of Grove Point Financial, a Rockville, Maryland-based independent wealth management firm. The deal brings approximately 400 independent financial professionals and about $15 billion of assets under administration to Atria, expanding its advisor network and scale across its multi-channel wealth management platform.