Gen II Fund Solutions Acquires Stone Pine Accounting Services
Addition Improves Gen II’s In depth Private Fairness Services Offerings, Drastically Grows Staff, Bolsters Western U.S. Existence
PE-Dedicated Fund Administrator Now Exceeds $600 Billion in AUA
NEW YORK and DENVER, Aug. 2, 2021 /PRNewswire/ — Gen II Fund Expert services, LLC (“Gen II”), a foremost independent non-public fairness fund administrator, right now introduced the acquisition of Stone Pine Accounting Solutions, LLC (“Stone Pine“), a Denver-based mostly provider of personal equity fund administration, tax and trader solutions. Terms of the transaction were being not disclosed.
Founded in 1998, Stone Pine presents customized solutions to a assortment of personal equity fund structures. The addition even further boosts Gen II’s assistance offerings, expands the firm’s footprint in the Western U.S., and boosts its headcount to additional than 750. Substantially, the acquisition provides Gen II’s belongings below administration to much more than $600 billion.
Led due to the fact 2009 by its co-founders, Steven Millner, Steven Alecia and Norman Leben, Gen II providers much more than 200 sponsors spanning the personal fairness industry, like buyout, fund of cash, authentic estate, infrastructure, credit rating, and other closed finish constructions. Gen II’s purchasers include things like quite a few of the industry’s most recognized private fairness companies alongside with personal equity’s premier emerging supervisors. In accordance to Preqin, Gen II administers much more $1 billion+ resources in North The united states than any other fund administrator.
“We are thrilled to welcome the expert and committed Stone Pine group to Gen II,” stated Steven Millner, Managing Principal and Co-Founder, Gen II. “Gen II is amid the most significant fund directors devoted solely to non-public equity and the addition of Stone Pine, with its powerful roster of purchasers and personnel, further improves our now complete abilities. Like Gen II, Stone Pine has a passion for substantial-contact consumer services and we are self-confident their contributions will reward the organization and our collective clients, whilst furthering our extensive-term advancement.”
“With a lifestyle of excellence and shared values, Gen II is a ideal suit for Stone Pine and we are enthusiastic to be a part of a legitimate world wide marketplace leader,” mentioned Megan Howell, Taking care of Partner, Stone Pine. “In addition to operational and economical security, and proven expansion and marketplace management, Gen II features a wealth of sources and several possibilities for job improvement. We seem ahead to helping grow Gen II’s footprint and extend the firm’s consumer support offerings, while maintaining the most effective-in-course company that personifies Gen II.”
About Gen II
Gen II is a top fund administration company concentrated fully on serving the different asset management place, including personal fairness, genuine estate and credit history resources. Considering the fact that its inception in 2009, the business has scaled speedily and these days is a single of the premier impartial personal fairness fund directors servicing extra than 5,000 fund entities, reporting to about 50,000 investors on behalf of their purchasers, and administering much more than $600 billion of private fund cash. Gen II presents private fund sponsors a best-in-course mixture of people, course of action and technologies, enabling GPs to most proficiently manage their operational infrastructure, fiscal reporting and trader communications.
For far more data, remember to pay a visit to www.gen2fund.com.
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