Standish Management has agreed to acquire NCM Fund Services, which provides fund administration for alternative investment funds.
NCM operates from Edinburgh, London, Jersey, and Guernsey.
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The companies did not disclose financial details of the transaction.
NCM supports funds focused on private equity, venture capital, real assets, social impact, and private debt through teams of accounting professionals.
Standish called the deal “highly complementary” and said it will add Jersey and Guernsey to its operating network.
It will also extend Standish’s UK offering to include AIFM, Depositary, and Operator services.
The companies will have the opportunity to refer clients to services and capabilities in other jurisdictions, including Luxembourg and the US.
The acquisition is part of Standish’s investment in its European platform, including its operations in London and Luxembourg.
Upon completion, Standish expects to have more than 300 employees across Europe, the Middle East, and Africa (EMEA), serving over 190 clients and 750 fund structures.
Its global workforce will exceed 1,300 employees across North America, Europe, Africa, and Asia.
Standish chairman, CEO and founder Bob Raynard said: “Bringing our firms together meaningfully expands our capabilities in the UK and the Channel Islands and creates a stronger platform to support our clients across Europe.”
NCM’s management team will remain in charge of the business and reinvest part of its proceeds in exchange for shares in Standish Group.
NCM’s clients will continue to be served by their existing teams, with no change to service delivery resulting from the acquisition.
Completion is expected later this year, subject to regulatory approvals.
NCM’s employees and offices in Edinburgh, London, Jersey, and Guernsey will continue operating as before after the transaction, while gaining access to Standish’s global platform and clients.
NCM CEO Kathleen McLeay said: “We believe the combination will allow us to deepen our capabilities, support clients across additional jurisdictions and continue delivering the responsive, director-led service our clients expect.”
