Augentius

Augentius was a leading fund administration business operating in over 13 jurisdictions around the world and headquartered in London.  Although it began as a specialist service provider to private equity funds it expanded to real estate, infrastructure and other alternative assets.  In 2018, it employed over 650 people and serviced 450 funds with over $145 billion in assets.

Augentius was founded in 2003 and Alcuin provided growth capital in 2006 taking a minority stake.  The original investment helped fund the buyout of an original seed investor and provide additional capital for expansion.  At the time of the investment, the company had only 30 employees and two offices in London and Guernsey.  The investment by Alcuin in Augentius was one of the first private equity investments in the fund administration industry.

Mark Storey joined the board and over the next 12 years played an active role supporting the senior management team develop their strategy and grow the business.  Augentius expanded its network of offices into the USA and the Far East.  In order to build capacity in a cost-effective way it set up a team of over 150 in Belfast and over 300 based in Manila.  Mark played a key role in leading a management succession exercise which led to a new strategy and accelerating profit growth in the last few years before the exit.

In 2018 the company was sold to IQ-EQ a larger European fund administration business backed by Astorg. This transaction generated a 13x ROC.