Evelyn Partners has announced the sale of its fund solutions business to Thesis Holdings for an undisclosed fee.
The business, operated by Evelyn Partners Fund Solutions, is authorised corporate director (ACD) to 161 UK-domiciled funds holding £10.6bn assets.
The deal will see 75 Evelyn Partners staff transfer across to Thesis on completion, which is expected in the first half of this year.
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Thesis is a fellow UK-based fund governance business, currently managing 170 funds with over £40bn assets.
A statement by Evelyn Partners said the sale follows a strategic review aimed at refocusing the group on its core wealth management business. In November 2024, the firm sold its professional services business to funds advised by Apax Partners.
Paul Geddes (pictured), group chief executive of Evelyn Partners Group, said: “The sale of EPFL to Thesis will further streamline Evelyn Partners so that we will be focused solely on wealth management. It will also provide new opportunities for our EPFL colleagues as part of a larger, specialist fund governance business.”
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