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August 22, 2019

Ultimus Fund Solutions swoops on LeverPoint Management

Fund administrator Ultimus Fund Solutions has strengthened its private markets offering with the purchase of LeverPoint Management, a provider of fund administration, accounting, tax, and back-office support services.

Financial terms of the transaction were not disclosed.

Headquartered in New York, LeverPoint caters to private equity, venture capital and real estate managers.

The deal is expected to complete in the fourth quarter of this year.

Ultimus CEO Gary Tenkman said: “Together, Ultimus and LeverPoint represent a leading independent and integrated fund solutions platform for both registered and alternative fund managers.

“Ultimus’ leading position is unique in the marketplace and allows it to better service managers of all sizes and asset types.”

Post deal closure, Ultimus will have more than $220bn in total assets under administration.

The private fund operations of Ultimus will adopt the name Ultimus LeverPoint Private Fund Solutions and will be led by David MacPhee as the CEO. At present, MacPhee serves as the CEO of LeverPoint.

The business will administer around $90bn of private fund assets across 230 clients.

MacPhee noted: “I look forward to working with Evan Audette of Ultimus, who will become COO of the combined entity.

“I’m confident the unified team will continue to provide the differentiated high-quality service we pride ourselves on, while delivering a broader set of capabilities to our combined client base.”

The latest deal follows the purchase of Ultimus and The Gemini Companies by private equity firm GTCR.


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