Pollen Street Capital has agreed to acquire Thesis Holdings Limited, known as Tutman, a fund services platform providing fund administration, corporate service, and transfer agency services to institutional investors, wealth managers, and family offices. The deal positions Tutman for its next phase of growth as demand rises for outsourced governance and administration amid increasing regulatory complexity.
Founded nearly 30 years ago, Tutman has expanded on the strength of what it describes as deep technical expertise and a high-quality service offering, serving large global fund managers, pension funds, and wealth managers with operational capabilities central to daily fund operations.
A key step in Tutman’s buildout was its 2025 acquisition of Evelyn Partners’ fund services business, which added in-house fund administration and transfer agency capabilities and enabled the company to offer a full-service solution. With Pollen Street’s backing, Tutman plans to accelerate expansion initiatives in Luxembourg and Ireland and pursue a pipeline of potential acquisitions to create a multi-jurisdiction fund services platform across Europe.
Tutman will continue to operate under its existing brand and management team, aligning with Pollen Street’s strategy of supporting specialist financial services platforms with clear pathways for scale and market expansion.
KEY QUOTES
“Pollen Street’s investment marks an important next phase in Tutman’s development. The firm’s deep understanding of financial services and strong track record makes them a natural partner as we continue to scale the business. This partnership strengthens our ability to invest in our people, technology and service offering, while accelerating our expansion across Europe and continuing to deliver the high standards our clients expect.”
David Tyerman, Chief Executive Officer of Tutman
“Tutman has built a strong full-service platform with a clear focus on quality, responsiveness and client outcomes. The business has a compelling history of strategic growth, and we look forward to supporting the team as they expand their footprint across Europe. This is an exciting opportunity to develop a scaled fund services platform.”
Duncan Gerard, Partner at Pollen Street
