Centaur Fund Services, provider of fund administration and regulatory services for the alternative fund industry, has secured a ‘significant’ growth equity investment from FTV Capital.
FTV Capital is a sector-focused growth equity investment firm, and the capital will position Centaur for continued expansion into new geographies.
Additionally, the investment will also allow for further investment into talent, product development and technology, Centaur noted.
Centaur added that it has also experienced rising demand for its solutions as a tech-enabled independent fund administrator.
This comes at a time when fund managers are increasingly looking to outsource their regulatory, back- and middle-office functions, according to Centaur.
Meanwhile, Ronan Daly, Karen Malone and Eric Bertrand, Centaur's co-founders, will continue their leadership roles and remain significant shareholders in the company.
As part of the transaction, FTV Capital partner Kyle Griswold and vice president Brent Fierro will join the company's board of directors.
Centaur's Daly commented: “We have known FTV for several years through their impressive track record in our sector, and now we look forward to working closely together as we enter this next phase of growth.”
Daly continued: "We see tremendous potential across alternative asset classes and geographies, especially in Europe and North America, and are confident that we can continue to seize this market opportunity with FTV Capital's experience and expertise."
FTV's Kyle Griswold, said: “Centaur's scalable, transparent and customisable solutions are in high demand as accountability and compliance continues to be top of mind for alternative fund managers. Centaur's management team has extensive domain experience, and we look forward to helping the team execute on their long-term strategy."
Centaur highlighted that the transaction is subject to regulatory approval.
