E78 Partners acquires Agile Fund Solutions, combined firm represents $30 billion of assets under management
Expanded firm’s 250+ team members now serve more than 125 alternative investment fund managers across private equity, venture capital, hedge and real estate
Chicago, New York, San Francisco, Los Angeles, Charlotte (September 14, 2021) – E78 Partners, a leading provider of finance, accounting and technology solutions for private equity firms, venture capital firms and their portfolio companies, has completed the acquisition of Agile Fund Solutions, a U.S.-based provider of institutional-quality outsourced CFO, COO and CCO consulting solutions to alternative investment managers. As a result, E78 Partners’ 250+ team members now serve over 125 alternative investment fund managers with responsibility for more than $30 billion in assets under management and have accelerated value creation for more than 300 institutionally backed portfolio companies and management teams.
This strategic acquisition transforms E78 Partners’ fund solutions practice and marks a key milestone in the firm’s strategy to continue to grow its national fund services business and diversify its asset manager client base. The deal underscores E78 Partners’ commitment to growing the private capital fund services market and builds upon E78 Partners’ other recent acquisitions that expanded the services and solutions it offers to institutionally backed portfolio companies.
John Signa, E78 Partners’ Founder and CEO stated, “We are delighted to welcome Vince Calcagno, Nick Castoria and the entire Agile Fund Solutions team to E78 Partners. Their deep domain expertise and experience as outsourced CFOs, CCOs and COOs greatly compliments our tech-enabled fund administration practice, offering a complete outsourced back-office solution for the private capital market, while their commitment to client service excellence aligns with our passion for exceeding our clients’ expectations.”
Agile Fund Solutions is an independent outsourced financial and operational services firm that has been serving the alternative investment industry for more than 10 years. Agile’s comprehensive suite of services is designed to fulfill the complete range of CFO, CCO and COO functions, including accounting and performance reporting and reconciliation, investor relations, compliance reviews, trading operations, management company records and data management.
Vince Calcagno, chief executive officer of Agile, joins E78 Partners as an executive managing director focused on the full stack of outsourced solutions for private funds, family offices and companies. Nick Castoria, founder and chief operating officer of Agile, joins E78 Partners as managing director and will be responsible for the day-to-day oversight of the fund solutions business unit. E78 Partners’ Chris Rakers will lead the private equity and venture capital group; Jared Elfvin, also from E78, will lead the real estate group; and Agile’s Paul Fitzpatrick will lead the hedge fund and family office groups. Agile’s high-quality, tenured team of professionals will join E78 Partners immediately as part of the acquisition.
“Joining forces with E78 creates incredible opportunities for both of our organizations, but even more importantly, for our clients,” said Castoria. “We have extensive hands-on experience running highly effective back-office teams, and we’ve built out operational, financial, compliance and accounting functions for hundreds of investment managers.”
“As important as it was for the companies’ respective service lines to complement one another, equally important was that the firms share the same foundational principles, culture and values,” said Calcagno. “Both operate with an entrepreneurial culture that is highly focused on delivering investment managers the support they need to scale their asset management business while providing their team members rewarding career opportunities.”
“This acquisition reinforces our commitment to becoming the most complete solutions partner for the office of the CFO within the private investment industry,” said Seth Deutsch, E78 Partners’ chief growth officer. “Our Fund Solutions practice is delivering tremendous organic growth and we are further strengthening our team with a series of carefully selected M&A transactions. The acquisition of Agile is an important step forward for E78 Partners.”
Agile will continue to operate under its established brand during a transition period, and its full leadership team and staff remain on board. Terms of the transaction were not disclosed.
For more information about E78 Partners, visit e78partners.com. More information about Agile is available at Agilefs.com.
ABOUT E78 PARTNERS
E78 Partners is a professional services firm specializing in accounting, finance and technology services and solutions. Founded in 2016 by private equity professionals, E78 Partners’ engagement teams are led by senior staff members with deep fund operations and industry experience, and they all operate with an understanding of private equity funds’ and portfolio companies’ unique needs. More information is available at e78partners.com.
ABOUT AGILE FUND SOLUTIONS
Agile Fund Solutions’ outsourced business model helps clients aim higher and reach the next level of their business, supporting firms moving through a wide range of AUM milestones, from $50 million to $500 million and beyond. The company’s fully customizable solutions and flexible operating paradigm deliver efficient operational solutions almost instantaneously and with a minimal commitment of capital.
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