Standish Management Acquires CORE-CCO
Standish Management, LLC, a prominent provider of fund administration services for alternative capital funds, has successfully acquired CORE-CCO Services, LLC. This firm is well-regarded for its compliance expertise in the private fund sector. With this acquisition, CORE will be rebranded as Standish Compliance Services, further solidifying Standish's market presence.
Deepening Partnership and Investments in Leadership
Standish has been an investor in CORE since 2021, and with this latest move, they've amplified their involvement by taking a majority stake in the company. Bob Raynard, CEO of Standish, expressed enthusiasm about this new chapter, stating, “CORE has been an excellent partner. This acquisition lets us enhance our services and broaden our market reach by utilizing the robust resources of Standish.”
New Leadership Roles
The rebranded Standish Compliance Services will be led by experienced professionals Robert Stype and Dan Smith, who will assume key positions as Chairman of the Board and President, respectively. Kimberly Garber, a co-founder of CORE, will continue as CEO, and all co-founders will retain their ownership stakes in Standish Compliance Services.
Leadership Team Profiles
Robert Stype and Dan Smith bring a wealth of knowledge in compliance from their extensive experiences in the private fund industry. Stype, a former co-founder and CEO of ACA Compliance Group, has a strong compliance background, having served as a Branch Chief at the SEC. Similarly, Smith held prominent roles at ACA Compliance Group and the SEC, emphasizing their solid grounding in regulatory affairs.
Expanding Expertise
Maryellen Maurer has also joined the leadership team, further enhancing the firm's capabilities. With three decades in regulatory compliance, Maurer has served in a senior role within the SEC's Private Funds Unit and as a senior vice president at Blackstone Life Sciences. Her vast experience is set to elevate client services significantly.
Shared Values and Objectives
Kimberly Garber highlighted the partnership’s shared commitment to delivering top-notch service. “We’re excited to work alongside top leaders like Rob, Dan, and Maryellen. Their expertise is invaluable, allowing us to offer high-quality services to a wider range of clients,” she remarked.
Improving Compliance Services
Robert Stype emphasized that these transitions reflect Standish’s commitment to fortifying the leadership team within Compliance Services. With the additional expertise from former ACA Compliance Group founders and executives joining as shareholders, the firm's standing in compliance consulting has been notably strengthened.
About Standish Compliance Services
Under the new name Standish Compliance Services, the firm plans to continue its tradition of developing tailored compliance programs for private fund managers. Established in 2011, CORE has collaborated with a diverse range of funds, leveraging a team that includes former SEC regulators and seasoned compliance specialists. This strategic acquisition marks a significant step forward in providing enhanced support and guidance to clients managing over $100 billion in assets.
About Standish Management
Recognized as an employee-owned global leader, Standish Management specializes in fund administration services designed for Managers and General Partners of various Private Equity Funds, including those in Venture Capital and Real Estate. Since its foundation in 2007, Standish has grown remarkably, employing over 1,000 professionals and serving a diverse client base of more than 600 clients while managing over 4,000 funds with assets exceeding $500 billion. Headquartered in San Francisco, Standish has established major offices in key locations, including New York, London, and Miami, to effectively offer its comprehensive range of services.
Frequently Asked Questions
What motivated Standish to acquire CORE-CCO?
The acquisition was aimed at enhancing Standish's compliance services by rebranding CORE-CCO to Standish Compliance Services, which will broaden their offerings in the private fund market.
Who is at the helm of Standish Compliance Services?
Robert Stype will serve as the Chairman of the Board, while Dan Smith takes on the role of President. Kimberly Garber will continue as the CEO of the newly formed Standish Compliance Services.
What qualifications do the new leadership team members possess?
The leadership team consists of industry veterans with extensive experience in compliance, particularly in private fund markets, and includes individuals who have held leadership roles at regulatory institutions and compliance firms.
How will this acquisition impact CORE's current clients?
Clients of CORE can expect to benefit from expanded resources, enhanced compliance programs, and a more robust support structure provided by Standish Compliance Services.
What is the background of CORE-CCO?
Founded in 2011, CORE-CCO has earned a strong reputation for creating high-quality compliance programs, partnering with major private equity funds across various sectors, and managing assets exceeding $100 billion.
