Alchelyst, a full-service fund administrator for alternative asset managers, is merging with Lyra Client Solutions, a tech-driven client servicing firm spun out from Apollo. This new platform aims to enhance the investor experience in private markets and is set to close in the fourth quarter of 2025, pending customary conditions.
Backed by Motive Partners and Apollo, the combined organization will offer unique capabilities in fund administration and client servicing. It will provide innovative services, automation, and real-time transparency to General Partners (GPs) while managing costs.
Joan Kehoe, Founder and CEO of Alchelyst, will lead the new company, leveraging her extensive experience as the former Global Head of Alternative Investment Services at J.P. Morgan.
KEY QUOTES:
“The combination of Alchelyst and Lyra creates a differentiated partner that can lead the next wave of innovation in private markets servicing, supporting GPs with a growing base of investors across the institutional and wealth channels. 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.”
Joan Kehoe, who will become CEO of the combined company upon close of the transaction
“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.”
Eileen Sivolella, Board Chair of Lyra
