Press Release: IQ-EQ acquires U.S. outsourced compliance provider Greyline Partners, LLC

Press Release: IQ-EQ acquires U.S. outsourced compliance provider Greyline Partners, LLC

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Global Investor Services Group IQ-EQ deepens its U.S. foothold with strategic acquisition

IQ-EQ, an Astorg portfolio company, is pleased to announce the acquisition of Greyline Partners, LLC (“Greyline”), an industry leading U.S. provider of governance and regulatory compliance solutions for PE, VC, Hedge funds and investors. Greyline is a highly successful, fast growing business with a strong commercial and cultural fit for IQ-EQ’s expanding operations in the U.S. Today, IQ-EQ U.S. employs 500+ people with plans to significantly grow this number in 2022 thanks to its strong business performance in the U.S. market. The combination of IQ-EQ and Greyline firmly positions IQ-EQ as the leading provider of outsourced business services to the alternative asset industry. This latest acquisition follows the successful acquisitions of Constellation Advisers and Concord Trust Company earlier this year.

Founded in 2016, Greyline is a partner led compliance services business headed up by Managing Partner Matt Okolita that employs 56 people across its six offices located in San Francisco, Dallas, New York, Chicago, Boston and London. Also part of Greyline is GCM Advisory, an outsourced CFO, Finance and Accounting business launched earlier this year.

The Greyline team provide a range of services including:

• Regulatory Compliance
• Management Consulting and Governance
• Outsourced Operations and middle office services
• Outsourced Finance, Accounting and back office services

This acquisition firmly positions IQ-EQ as the leading provider of outsourced business services to the alternative asset industry in the U.S. Greyline’s diversified client base, including wealth advisory and broker dealer clients, perfectly complements IQ-EQ’s shared client focus on alternative assets managers and investors. A shared entrepreneurial approach coupled with a strong focus on providing high levels of client service, and an emphasis on training and investment in their people, positions the newly combined entity as the provider of choice for alternative asset managers.

On announcing this acquisition, Group Executive Chairman Serge Krancenblum commented:

“On behalf of IQ-EQ Group, I’m delighted to welcome the Greyline Partners team to our expanding business. We quickly recognized in Greyline Partners a business that shares our high touch service standards and successfully services its clients’ regulatory, operational and governance needs through dynamic, high-quality consulting and innovative use of technology. We liked what we saw and set our sights on making them part of our U.S. ambitions. The acquisition of Greyline Partners marks another key milestone in our U.S. growth strategy and brings with it significant potential to combine our collective expertise for the benefit of our clients and our employees, not just in the U.S. but group wide.”

Mark Fordyce, IQ-EQ Regional CEO, The Americas added:

“Welcoming Matt and the Greyline Partners team to IQ-EQ is something we’re incredibly excited about as it further strengthens IQ-EQ as the leading outsourced service provider to the alternative asset industry. With a range of complementary services, a shared common culture, a highly experienced team and a reputation for delivering high-touch, white-glove, tech-enabled services to our clients, we have created an unmatched regulatory and compliance business here in the U.S. For our combined team of 500+ talented individuals, this latest acquisition promises unrivalled opportunities, personal development and training as part of an entrepreneurial and highly driven team. We have ambitious plans for the future and having the Greyline Partners team join us fits very well into these plans.”

Commenting on the transaction Matt Okolita, Managing Partner, Greyline Partners, LLC, added:

“This acquisition allows us to continue on our journey of building the premier outsourced business services platform and grants our clients access to a hugely increased range of services across the global markets. As Greyline Partners, LLC, we’ve focused on developing a culture and product that has led to tremendous success, and now it’s time to achieve even more as part of IQ-EQ Group.”

About IQ-EQ

IQ-EQ is a leading investor services group that brings together a rare combination of global technical expertise and deep understanding of client needs. We have the know-how and the ‘know you’ to provide a comprehensive range of compliance, administration, asset and advisory services to fund managers, multinational companies, family offices and private clients operating worldwide.

IQ-EQ employs a global workforce of 3,700+ people located in 24 jurisdictions and has assets under administration (AUA) exceeding U.S. $500 billion. IQ-EQ works with 15 of the top 20 global private equity firms.

Also part of the IQ-EQ group of companies are First National Trustee Company (FNTC), Equitis, The Private Office, Peru & Partners, Blue River, Conseil Expertise & Synthèse, Constellation Advisers and Concord Trust Company.

To find out more about IQ-EQ visit www.iqeq.com.

About Astorg

Astorg is a global private equity firm with over €13 billion of assets under management. They work with entrepreneurs and management teams to acquire market leading global companies headquartered in Europe or the U.S., providing them with the strategic guidance, governance and capital they need to achieve their growth goals. Astorg enjoys a distinct entrepreneurial culture, a long-term shareholder perspective and a lean decision-making body. Astorg has valuable industry expertise in healthcare, software, technology, business services and technology-based industrial companies. Astorg has offices in London, Paris, New York, Frankfurt, Milan and Luxembourg.

For more information about Astorg: www.astorg.com.

For further information on this announcement, please contact:

Alison Duffy
Group Head of Marketing and Communications
E: alison.duffy@iqeq.com
M: +353 86 7780300

Meghan Warren
Aspectus Group
E: meghan.warren@aspectusgroup.com
M: +1 347 766 4589

 

 

 

 

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Darren Mooney

Partner and Co-Head of Business Development

Darren Mooney is a Partner and the Co-Head of Business Development at Greyline. Before joining Greyline, Darren served as deputy chief compliance officer of Partner Fund Management where he held primary responsibility for the compliance program of the second-largest hedge fund in the Bay Area. Prior to that, Darren spent five years providing compliance consulting services at Cordium and then ACA Compliance Group, where he led the company’s San Francisco office and west coast operations. In addition to providing ongoing consulting services to a variety of investment managers, including hedge fund, private equity, venture capital, real estate, quantitative and other wealth managers, Darren also regularly guided clients through the SEC registration process, implemented tailored compliance programs, supported clients’ live SEC exams, and served as an SEC-mandated independent compliance consultant following an SEC enforcement action. Darren’s other experience includes serving as deputy chief compliance officer and associate counsel at F-Squared Investments where he directly supported the compliance program during the investigation and subsequent enforcement regarding historical advertising practices. Darren has a B.S. in Economics from the University of Delaware and a J.D. from Suffolk University Law School. He is a member of the Massachusetts bar.

Annie Kong

Partner and Head of Venture Capital
Annie Kong is a Partner and Head of the Venture Capital Division at Greyline. She provides ongoing compliance consulting to investment advisers and manages client relationships. Prior to joining Greyline, Annie was part of compliance and operations at a long-only manager-of-managers that advised pension fund clients. While there, she conducted compliance and operational due diligence on SEC-registered investment advisers on the platform. She also oversaw and counseled on various legal matters across the firm. Annie has a B.A. in Economics from the University of California, San Diego, and a J.D. from the University of San Diego School of Law. She is an active member of the State Bar of California.
Greyline is pleased to announce that we are the recipient of the 2021 HFM U.S. Service Award in the Best Technology Firm – Newcomer category.