Since this acquisition does not involve Crestbridge Family Office Services, it will continue to be privately owned and run independently while offering its private client, trust, and fiduciary services.

It will continue to provide the same level of care and attention to its clients and their advisers needs as it has for the past 10 years.

Chief executive, Heather Tibbo, said: “Over the last ten years, Crestbridge Family Office Services has demonstrated a clear focus on its specialism for families and ultra-high net-worth clients and advisers. I am excited about the future for our business, our people, and the continuing opportunity to grow and develop our array of services, delivering excellence to our clients and advisers whose interests I firmly believe are best served by our remaining independent.”

With Paul Hunter serving as managing director, Tibbo currently leads Crestbridge after joining the company eleven years ago to launch Family Office Services.

They will continue to receive assistance from the present staff of Family Office Services experts, providing continuity of services and connections.

Crestbridge is a company that provides management, corporate governance, and administration solutions globally.

Its expertise covers a wide range of services, asset classes, and jurisdictions.

The company offers a wide range of outsourced fiduciary, administrative, accounting, and compliance services globally.

It has been providing knowledge and experience to clients since 1998, including top firms, sovereign wealth funds, investor groups, asset managers, and families with extremely high net worth.

Gen II is a fund administration company that only works with investors and asset managers in the private capital market.

With more than $1trn in private fund capital under management since its establishment in 2009, it has grown to become one of the biggest independent private capital fund administrators.

Following customary regulatory approvals, the acquisition is expected to close in due course.

The transaction’s terms were not disclosed.