Gen II Fund Services Sees Significant Growth, Technology Achievements, and Addition of Key Personnel in 2024

Updated on: March 6, 2025

Continues Providing Industry-leading Expertise as Mission Critical Partner with Expanding Mandate while Growing AUA to $1 Trillion +

NEW YORK– March 6, 2025 - Gen II Fund Services (“Gen II”), a leading global private capital fund administrator, enjoyed a successful 2024, achieving strong growth and reaching several business milestones while continuing to provide best in class fund administration support, cutting edge purpose-built technology solutions, and the deep expertise to enable clients to meet their goals as they increasingly rely on Gen II for an expanded set of services. These included major acquisitions and partnerships, growth in assets under administration (AUA) to $1 trillion +, key executive appointments, headcount growth from 1,100 to 1,700, and an expansion of its global footprint from 8 to 13 offices, including a brand-new headquarters in New York.

“2024 saw the successful execution of major initiatives such as closing the acquisition of preeminent European private capital fund administrator Crestbridge, the launch of Sensr Databridge, expanding with five new offices, and addition of significant talent to our deep bench of industry experts, including Ben Mazza as Head of Digital Solutions, Alan Ince as chief Transformation Officer and Matt Le Noury as Head of European Operations,” said Steven Millner, Chief Executive Officer and Co-founder of Gen II. “We are proud to be the ‘must-call’ fund administrator setting the standard for the industry but also welcome a growing mandate as our clients increasingly see us as a mission critical partner for everything from tax compliance to investor services, and more.”

Business

• April – Acquired Crestbridge, expanding presence in Luxembourg and adding jurisdictional reach in the U.K., Jersey, Ireland, and other international markets while broadening product capabilities.

Opened office in Boca Raton, Florida, to better serve clients in southeastern U.S.

• November – Southampton, England team relocated to new office with capacity for significant staff expansion to scale transatlantic service capabilities.
• December – Opened new global Headquarters in New York with increased office space for team collaboration and continued growth.

Technology

• January – Expanded our innovations in automating the receipt, retrieval, and document management of communications from underlying funds.
• April – Launched Sensr DataBridge, a no-code solution which revolutionizes how private equity sponsors access and integrate crucial fund data. Empowering users to seamlessly connect fund administration data with both in-house and third-party platforms, it streamlines access and bridging diverse applications, tools, and systems with ease.
• May – Rebranded investor portal from Update Capital to Sensr Portal, which empowers fund managers to improve investor relationships with efficient, robust communications, data analytics, and reporting.
• July – Expanded end to end digital solutions suite with Funded, a proprietary eSubdoc platform which digitizes subscription data and streamlines fund subscriptions and AML/KYC processes for clients. Launched the Genesis platform, a single pane of glass solution to improve client experience and earned Data Privacy Framework Certification under EU-US Data Privacy Framework, enabling secure data transfer to the US from the European Union, United Kingdom, and Switzerland.
• August – Enhanced credit funds services with Allvue to more effectively aggregate and analyze portfolio performance, automate financial tracking, integrate complex accounting processes, and support intuitive reporting capabilities in a single solution.

Key Personnel

• February – Announced the promotion of five new principals, showcasing commitment to investing in continued growth.
• March – Expanded leadership team with appointment of Ben Mazza as Head of Digital Solutions, and Kwang Lee as Global Head of Financial Planning and Analysis (FP&A).
• May – Appointed Richard Browne, Head of Client Service – Luxembourg, Matt Le Noury as Head of European Operations, to strengthen European offerings.
• July – Appointed Alan Ince as Chief Transformation Officer to develop new processes and products to further enhance client service capabilities while leveraging industry and market leadership.
• December – Appointed Paul Spendiff Head of Business Development, Europe to continue delivering high quality, solution-driven services worldwide.

“With Gen II’s significant forward momentum this year, we’re maintaining our history of reinvesting back into our business,” added Millner. “We look forward to further bold, industry leading moves in 2025 to continue offering the most comprehensive suite of services and technology solutions to our private capital clients.”

About Gen II

Gen II, a leading international fund administration provider, is exclusively dedicated to serving private capital asset managers and investors, with offices in North America and throughout Europe. Since its inception in 2009, the company has grown to become one of the largest independent private capital fund administrators, overseeing more than $1 trillion of private fund capital. Gen II is committed to offering private fund sponsors a best-in-class combination of people, process, and technology, enabling GPs to effectively manage their operational infrastructure, financial reporting, and investor communications. With the recent expansion into European markets, Gen II is poised to bring its expertise and innovative solutions to a broader audience of asset managers and investors worldwide. For more information, please visit gen2fund.com.

Media Contact

Tom Faust
646-502-3513
Gen2PR@StantonPRM.com

Published on: March 6, 2025