Independent private equity fund administrator Gen II Fund Services has acquired Stone Pine Accounting Services.
The addition of the private equity fund administration, tax and investor services provider to Gen II’s service offerings will expand the firm’s presence in the western US and increase its headcount.
Gen II currently services over 200 sponsors across the private equity industry, including buyout, fund of funds, credit and other closed end structures.
Following the acquisition, Gen II’s total assets under administration is now over $600 billion.
Commenting on the acquisition, Steven Millner, managing principal and co-founder of Gen II, says: “We are thrilled to welcome the Stone Pine team to Gen II. The addition of Stone Pine, with its strong roster of clients and staff, further enhances our already comprehensive capabilities.”
“Like Gen II, Stone Pine has a passion for high-touch client service and we are confident their contributions will benefit the firm and our collective clients, while furthering our long-term growth.”
Megan Howell, managing partner at Stone Pine, adds: “We are excited to join a true global industry leader. We look forward to helping grow Gen II’s footprint and expand the firm’s client service offerings, while maintaining the best-in-class service that personifies Gen II.”
