Alchelyst and Lyra Client Solutions Merge: The Game-Changing Alliance That Could Disrupt the Industry Overnight

Ever wonder what happens when two trailblazers in the private markets servicing world join forces? Well, alchelyst, a full-service fund administrator for alternative asset managers, is teaming up with Lyra Client Solutions (“Lyra”), the tech-savvy client servicing outfit spun out from Apollo, to create a powerhouse platform designed to shake up the investor experience across institutional and global wealth channels. This isn’t your average merger; it’s a bold step toward mixing cutting-edge automation with real-time transparency, all while addressing the soaring demands managers face in today’s fast-growing private markets. With backing from the fintech-focused Motive Partners and Apollo, this new combined entity promises to deliver unmatched operational excellence and next-level client service—led by Joan Kehoe, a seasoned leader whose track record speaks volumes. Exciting times ahead, right? The deal’s set to close in late 2025, but the buzz is already real. LEARN MORE

Full-service fund administrator for alternative asset managers, alchelyst, and Lyra Client Solutions (“Lyra”), a technology-enabled client servicing organisation spun out from Apollo, have announced a merger to form a next-generation private markets servicing platform purpose-built to transform the investor experience across the institutional and global wealth channels.

The transaction is expected to close in the fourth quarter of 2025, subject to customary closing conditions.

Backed by Motive Partners, a private investment firm exclusively focused on financial technology, and Apollo, the combined organisation will provide differentiated capabilities across fund administration and client servicing.

As the private markets industry continues to grow rapidly, managers are facing heightened expectations to provide operational excellence, integrated fund administration, and technology-driven client service capabilities.

The new platform will meet this challenge by delivering innovative servicing capabilities, intelligent automation, and real-time transparency at scale for General Partners (GPs) seeking to remain at the forefront of client service while balancing cost and efficiency pressures.

The combined company will be led by Joan Kehoe, Founder and CEO of alchelyst.

Kehoe previously served as Global Head of Alternative Investment Services at J.P. Morgan.

She has spent her career building and running Financial Services businesses, including Quintillion Limited as Founder and CEO and PFPC International Limited as CEO.

“The combination of alchelyst and Lyra creates a differentiated partner that can lead the next wave of innovation in private markets servicing, supporting GPs with a growing base of investors across the institutional and wealth channels,” said Kehoe, who will become CEO of the combined company upon close of the transaction.

“With Motive Partners’ deep domain expertise and network and Apollo as a founding client and strategic design partner, we are poised to deliver measurable value to our clients and help expand private market access to new investors.”

Eileen Sivolella, Board Chair of Lyra added, “As private markets continue to expand through broader institutional adoption and an ever-evolving private wealth channel, asset managers are seeking high-end scalable fund administration, client servicing, and technology platforms to maintain their edge.

“By bringing together Alchelyst’s deep industry knowledge and fund administration technology with Lyra’s premium client servicing offering, we believe this new platform is uniquely positioned to address this need.”

Photo: Joan Kehoe, Founder and CEO of alchelyst