Ultimus: Stone Point Capital Joins GTCR in Strategic Investment
Deal News | Apr 23, 2025 | Stone Point Capital LLC
Stone Point Capital has signed a definitive agreement to co-invest with GTCR in Ultimus Fund Solutions. As a leading independent provider of fund administration services, Ultimus operates in public and private fund space and holds over $600 billion in assets. The deal sees full liquidity provided to GTCR Fund XII with both GTCR and Stone Point controlling the company equally. Despite undisclosed terms, this transaction positions Ultimus to capitalize on the growing market for retail alternatives, aligning with Ultimus' capabilities and market potential. The move advances Ultimus' strategy to expand through organic and strategic acquisitions under the leadership of Gary Tenkman, with expected closure in late 2025.
Sectors
- Private Equity & Venture Capital
- Financial Services
- Asset Management
Geography
- United States – GTCR is based in Chicago, and Stone Point Capital is based in Greenwich, with Ultimus Fund Solutions operating widely in the U.S. market.
Industry
- Private Equity & Venture Capital – The investment by Stone Point Capital and GTCR represents activity within the private equity sector, involving strategic investments and partnerships.
- Financial Services – Ultimus Fund Solutions operates within the financial services sector, providing fund administration and related services.
- Asset Management – As a fund administrator with over $600 billion in assets, Ultimus is integrated in the asset management sector.
Financials
- $600 billion – Assets under administration by Ultimus Fund Solutions.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Ultimus Fund Solutions | Target Company | Company | A leading independent fund administration provider servicing over 450 clients and 2,100 funds with more than $600 billion in assets. |
| GTCR | Investor and Selling Company | Company | A private equity firm co-investing and providing liquidity through its Fund XIV while previously invested via Fund XII. |
| Stone Point Capital | Investor | Company | A private equity firm joining as a co-investor with GTCR to equally control Ultimus Fund Solutions. |
| Goldman Sachs & Co. LLC | Financial Advisor | Company | Served as a financial advisor to Ultimus Fund Solutions. |
| Morgan Stanley & Co. LLC | Financial Advisor | Company | Acted as a financial advisor to Ultimus Fund Solutions. |
| Ardea Partners LP | Financial Advisor | Company | Provided financial advisory services to GTCR. |
| Broadhaven Capital Partners | Financial Advisor | Company | Delivered financial advice to GTCR. |
| Latham & Watkins LLP | Legal Advisor | Company | Legal counsel for GTCR. |
| Simpson Thacher & Bartlett LLP | Legal Advisor | Company | Provided legal advice to Stone Point Capital. |
| Paul, Weiss, Rifkind, Wharton & Garrison LLP | Debt Financing Counsel | Company | Debt financing counsel for Stone Point Capital. |