Alter Domus, the Luxembourg-based provider of fund administration, debt capital markets and corporate services has acquired Strata Fund Solutions LLC, a U.S.-based fund administrator serving U.S. private equity and venture capital funds. Strata has nearly USD140bn AuA with 200 employees. FTV Capital led a significant growth equity investment in Strata in 2018, with participation from StepStone Group, and both exited as part of this transaction. Following the transaction, Alter Domus claims it will be one of the top three largest private asset servicers for US managers, as well as taking global AuA to >USD1trn. In 2020 Alter Domus bought IPS Fund Services in the U.S., a small PERE administrator with USD9bn AuA.
