Gen II Fund Services acquires Stone Pine Accounting Services


NEW YORK and DENVER, August 2, 2021 / PRNewswire / – Gen II Fund Services, LLC (“Gen II”), a leading independent director of private equity funds, today announced the acquisition of Stone Pine Accounting Services, LLC (“Umbrella pine“), a Denverprovider based on private equity fund administration, tax and investor services. Terms of the transaction were not disclosed.

Founded in 1998, Umbrella pine provides tailor-made services to a variety of private equity fund structures. The addition further enhances Gen II’s service offerings, expands the company’s presence in the western United States, and brings its workforce to more than 750. Significantly, the acquisition brings assets under administration to Gen II to more than 600 billion dollars.

Managed since 2009 by its co-founders, Steven millner, Steven alecia and Norman Leben, Gen II serves more than 200 sponsors spanning the private equity industry, including buyout, funds of funds, real estate, infrastructure, credit and other closed structures. Gen II clients include many of the industry’s most established private equity firms as well as leading emerging private equity managers. According to Preqin, Gen II administers more than $ 1 billion + in funds in North America than any other fund administrator.

“We are delighted to welcome experienced and dedicated people Umbrella pine team at Gen II, ”said Steven millner, Managing Director and Co-Founder, Gen II. “Gen II is one of the largest fund administrators dedicated solely to private equity and the addition of Umbrella pine, with its strong roster of clients and staff, further enhances our already extensive capabilities. Like Gen II, Umbrella pine has a passion for high quality client service and we believe their contributions will benefit the firm and our collective clients, while fostering our long-term growth. “

“With a culture of excellence and shared values, Gen II is perfectly suited to Umbrella pine and we are delighted to join a true global industry leader, ”said Megan howell, Management partner, Umbrella pine. “In addition to proven operational and financial stability, growth and industry leadership, Gen II offers a wealth of resources and many career development opportunities. best-in-class service that personifies Generation II. “

About Gen II
Gen II is a leading provider of fund administration fully dedicated to serving the alternative asset management space, including private equity, real estate and credit funds. Since its inception in 2009, the company has grown rapidly and is today one of the largest independent directors of private equity funds serving more than 5,000 fund entities, reporting to approximately 50,000 investors. on behalf of their clients and administering more than 600 billion dollars private fund capital. Gen II provides private fund sponsors with a best-in-class combination of people, processes and technologies, enabling GPs to more effectively manage their operational infrastructure, financial reporting and investor communications.

For more information, please visit www.gen2fund.com.

Contact:
Daniel abramson
BackBay Communications
857-305-8441
[email protected]

SOURCE Gen II Fund Services, LLC

Related links

www.gen2fund.com

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