Compliance Risk Concepts (CRC) – through its parent company Re-Sourcing Group – has received a significant investment from MidOcean Partners to advance its position as a valued compliance partner to the financial services industry. This funding round will support the continued growth of CRC’s unique brand of business-focused compliance and risk management advisory services.
The compliance and risk management industry evolved in recent years amid new regulations, rule modifications, and heightened government oversight. And the changes come amid consolidation in the outsourced compliance space, resulting in fewer options for clients seeking expertise coupled with exceptional service.
CRC thrived as a provider of senior-level compliance advisory services for financial organizations. And the firm delivers expert-driven advice and strategy for its clients, which include broker-dealers, investment advisers, fintech and digital asset firms, banks, credit unions, etc., in helping them navigate the ever-changing regulatory landscape. MidOcean Partners anticipates CRC’s continued success in delivering compliance solutions to a diverse clientele.
The confluence of talent shortages and increasingly complex requirements for managing businesses on the legal and compliance front has led to a continued surge in demand for outsourced solutions. For example, in the investment adviser sector, an estimated 59% of firms outsourced some or all of their compliance and legal work. And Avnet and his partners at MidOcean see this as an opportunity for further growth.
KEY QUOTES:
“Market demand for outsourced solutions in the compliance advisory arena has grown significantly in recent years. At the same time, consolidation has left clients with fewer premier options. CRC has over 50 senior compliance professionals on our team, and we can deliver the guidance, insight and day-to-day execution support that firms in the financial services market are seeking. We are known for our ‘in-the-seat’ approach to compliance and risk management support, and we plan to leverage this growth investment to extend our reach within the industry.”
“We are business people that know compliance and we are fully invested in helping our clients achieve great commercial outcomes while remaining regulatorily compliant. Our partnership with MidOcean is integral to our overall business thesis and we look forward to leveraging the impact of MidOcean’s investment to extend our reach within the industry.”
– Mitch Avnet, founder of CRC
“There is incredible upside for a firm of CRC’s caliber to fill the void that firms have in meeting their compliance needs and having the support they want to help them make sound business decisions. We feel that the consolidation happening that has absorbed some boutique players has spurred the opportunity for CRC even more, and we’re eager to see how our investment can be a catalyst for Mitch and his team.”
– Elias Dokas, Managing Director at MidOcean Partners
