Allocations Acquires Lumen Advisory & Finance

Allocations acquired Salt Lake City-based Lumen Advisory & Finance in a $2.5 million cash-and-stock deal to integrate Lumen’s accounting automation capabilities into Allocations’ private equity platform. Nicholas Bird, founder of Lumen, will join Allocations as Chief Financial Officer as the firm’s “infinity engine” fund and SPV accounting system is deployed across Allocations’ product suite. The acquisition strengthens Allocations’ fund administration and tech-enabled accounting capabilities for its SPV and fund customers.