Gen II Fund Services has been appointed as the exclusive administrator to $10 billion of private equity funds sponsored by Aberdeen Standard Investments (ASI).
Under the agreement, Gen II will provide fund accounting and reporting, fund administration and other related services to ASI’s USA private equity funds.
The deal will build on Gen II’s growing portfolio of private equity clients which has seen the administrator amass $275 billion of private capital on behalf of its clients.
The Standard Life Aberdeen group was formed by the merger of Standard Life and Aberdeen Asset Management PLC in 2017.
“We appreciate the confidence ASI has in Gen II,” said Steven Millner, managing principal and co-founder of Gen II.
“ASI is a recognised global investment manager. We look forward to providing our industry leading, best-in-class solutions to ASI and their Investors. We welcome the former ASI fund administration team to Gen II.”
The announcement comes two months after Gen II entered into a strategic agreement whereby to acquire private equity and real estate administrator, Quilvest Luxembourg Services, which supports over $5 billion of assets.