Alchelyst and Lyra Client Solutions Merge to Create Next-Generation Private Markets Servicing Platform

Alchelyst and Lyra Client Solutions are merging to create a next-generation private markets servicing platform. The combined organization will provide differentiated capabilities across fund administration and client servicing. The new platform will offer innovative servicing capabilities, intelligent automation, and real-time transparency at scale for General Partners seeking to provide operational excellence and integrated fund administration. The transaction is expected to close in Q4 2025.

July 02, 2025

Alchelyst, a leading full-service fund administrator for alternative asset managers, and Lyra Client Solutions ("Lyra"), a technology-enabled client servicing organization spun out from Apollo (NYSE: APO), have announced a merger to form a next-generation private markets servicing platform. The combined organization will provide differentiated capabilities across fund administration and client servicing, designed to meet the growing needs of General Partners (GPs) seeking operational excellence and integrated fund administration.

The transaction, expected to close in the fourth quarter of 2025, is backed by Motive Partners, a private investment firm focused on financial technology, and Apollo. The new platform will deliver innovative servicing capabilities, intelligent automation, and real-time transparency at scale. This will enable GPs to maintain a competitive edge while balancing cost and efficiency pressures.

Alchelyst, founded in 2023 by Joan Kehoe, Brian Fitzgerald, and Ian Lynch, operates across Dublin, India, Luxembourg, and the US. Lyra, with global office locations in New York, Greenwich, Irvine, and Mumbai, delivers end-to-end client services tailored to institutional, global wealth, and global family office investors. The combined company will be led by Joan Kehoe, who previously served as Global Head of Alternative Investment Services at J.P. Morgan.

"The combination of Alchelyst and Lyra creates a differentiated partner that can lead the next wave of innovation in private markets servicing," said Joan Kehoe, who will become CEO of the combined company upon close of the transaction. "With Motive Partners’ deep domain expertise and network and Apollo as a founding client and strategic design partner, we are poised to deliver measurable value to our clients and help expand private market access to new investors."

Eileen Sivolella, Board Chair of Lyra, added, "As private markets continue to expand through broader institutional adoption and an ever-evolving private wealth channel, asset managers are seeking high-end scalable fund administration, client servicing, and technology platforms to maintain their edge. By bringing together Alchelyst’s deep industry knowledge and fund administration technology with Lyra’s premium client servicing offering, we believe this new platform is uniquely positioned to address this need."

The merger follows a trend of consolidation in the private markets industry, driven by the need for operational excellence, integrated fund administration, and technology-driven client service capabilities. The new platform aims to meet these challenges by delivering innovative servicing capabilities, intelligent automation, and real-time transparency at scale.

References:

[1] https://www.hedgeserv.com/
[2] https://www.stocktitan.net/news/APO/alchelyst-and-lyra-client-solutions-to-combine-to-create-next-tfzwseoo2cu9.html