Standish to Expand Global Footprint Through Acquisition of NCM

Transaction expands Standish’s presence in the United Kingdom and Channel Islands and significantly strengthens its European capabilities

Standish Management (“Standish”), a premier independent provider of fund administration and related services to the private capital industry, today announced it has signed an agreement to acquire NCM Fund Services (“NCM”), a leading independent provider of fund administration services to alternative investment funds with offices in Edinburgh, London, Jersey and Guernsey. NCM’s multidisciplinary teams of accounting professionals support private equity, venture capital, real assets, social impact, and private debt strategies. Financial terms were not disclosed.

The acquisition is highly complementary and broadens Standish’s footprint by adding operations in Jersey and Guernsey. It also expands Standish’s existing presence in the United Kingdom, adding AIFM, Depositary and Operator services to its existing suite of services for UK managers. Where relevant, it creates opportunities for Standish and NCM to introduce their clients to a broader range of services and jurisdictional capabilities including in Luxembourg and the U.S.

This transaction is part of Standish’s continued investment in its European platform, including in its rapidly growing existing operations in London and Luxembourg. Following the acquisition, Standish will have a team of more than 300 employees across EMEA, serving over 190 clients across 750 fund structures. With the addition of Jersey and Guernsey Standish will have the capabilities to service its clients in all of the key jurisdictions for fund formation. The transaction increases Standish’s global team of professionals to more than 1,300 across North America, Europe, Africa and Asia.

“NCM has built an excellent business around its highly experienced teams and long-term client relationships. Bringing our firms together meaningfully expands our capabilities in the UK and the Channel Islands and creates a stronger platform to support our clients across Europe. Just as importantly, NCM shares our belief that great service starts with hiring the best people and leveraging best in class technology to deliver an exceptional client service,” said Bob Raynard, Chairman, Chief Executive Officer and Founder of Standish.

NCM's management team will continue to lead the business and will be reinvesting a portion of their proceeds to become shareholders of the Standish Group. Importantly, the acquisition will preserve the experienced, locally led service model on which NCM’s clients rely and provide clients with continuity of service. NCM clients will continue to work with their existing NCM teams with no change to service or delivery as a result of this acquisition.

“Joining Standish gives NCM the opportunity to build on the culture of service and local expertise that have defined our business, while providing our clients and people with access to a broader global platform. We believe the combination will allow us to deepen our capabilities, support clients across additional jurisdictions and continue delivering the responsive, director-led service our clients expect,” said Kathleen McLeay, Chief Executive Officer of NCM.

The transaction is expected to close later this year, once customary regulatory approvals have been obtained. Upon closing, NCM's employees and offices in Edinburgh, London, Jersey and Guernsey will continue to operate as before with access to Standish's global platform and clients.

About Standish

Standish is a premier independent provider of fund administration and related services to the private capital industry. With more than 1,200 professionals across North America, Europe, Africa and Asia, Standish provides solutions spanning fund administration, management company, tax and compliance services, as well as corporate and depositary services for clients in Europe. The firm supports more than 500 clients with approximately $900 billion in assets under administration and serves all major alternative asset classes.

For more information, please visit www.standishmanagement.com or contact info@standishmanagement.com.

About NCM Fund Services

Founded in 2009, NCM is an independent fund and corporate administration services business delivering outsourced solutions to alternative investment funds. With offices in Edinburgh, London, Jersey and Guernsey, NCM provides fund, corporate, regulatory and depositary services through experienced multidisciplinary teams supported by industry-leading systems.

For more information, please visit www.ncm.group.

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The acquisition broadens Standish’s footprint by adding operations in Jersey and Guernsey and expands Standish’s existing presence in the United Kingdom, adding AIFM, Depositary and Operator services to its existing suite of services for UK managers.