THL acquires Standish
Thomas H Lee Partners has acquired a majority stake in fund administrator Standish Management, with Vitruvian Partners cashing out.
The US-based fund administrator expanded to the UK in September 2021. You can find out more about the UK offering in our interview with regional director Mark Coppin.
The deal values Standish at approximately $1.6bn including debt, according to Reuters.
THL will take a 55% stake in the fund administrator, with the remainder kept by Standish’s management and its employees.
The private equity firm competed with Blackstone and TPG for the deal.
No further comments were provided by any party.
You can find more information on fund administration consolidation and ownership in our fund