The Genesis of Alchelyst

November 27, 2023

The Founders collectively share a background in start-up operations, in places like PFPC, Citco and Quintillion spanning from the early 1990’s through to the 2000’s. Over the last decade, they have all transitioned to larger institutional firms.

Given their history and experience in building businesses from the ground up, the idea of forming a new fund administration business began to simmer during 2022.

They believe the industry needs a fresh, independent administrator. In the last decade, they've operated within the context of common industry challenges some of which are listed below.

  • Businesses were forced to keep their clients on legacy technologies due to the prohibitive cost of making a transition.
  • Poor technology required more manual support from staff, resulting in errors, client frustration and ultimately staff disillusionment.
  • Managers and GP's have distinct needs, seeking customized services. While the majority of our work is consistent across clients, it's that remaining 10% that truly sets us apart.

All the above has led to client frustration, high staff turnover and additional service layers between the client and those capable of taking effective action. The solution was evident from the outset. Establish a well-capitalized independently owned fund administrator, aiming to combine the agility of a startup with the infrastructure of an institutional firm, enabling us to compete at all levels.

A significant fund raise was completed in Q1 2023, that gave us the ability to invest in highly tenured teams in Ireland and India along with implementing our technology platform.

Our staff are not just employees; they are owners of the business. The success of the business directly correlates to their success.

We strongly believe in work life balance and as we grow, we encourage our team to work smarter not harder. A happy, motivated team consistently delivers an exceptional client experience. Motivation is derived from balance and responsibility; we have stripped away traditional client service layers. Our staff are aligned with the client; our operational team takes ownership of the relationship and is responsible for its success.

Our ethos is straightforward, pairing the best people with the best technology along with the ambition to continuously evolve and make a difference.