E78 Partners Receives Investment from Further Global

Capital supports E78’s growth plans and enhances ability to serve clients

Chicago, New York (December 2, 2021)E78 Partners, a fast-growing provider of finance, accounting and technology solutions to the private capital industry, announced today that funds advised by Further Global Capital Management, a private equity firm focused on financial services businesses, have made an investment in the company. The partnership with Further Global will provide E78 with the capital and resources to accelerate growth and expand the company’s service offering and geographic footprint. Following the transaction, members of the E78 management team and its employees will continue to hold meaningful equity stakes in the company. Additional terms of the transaction were not disclosed.

E78 Partners provides private equity firms, portfolio companies and corporate clients with a comprehensive suite of services and technology-enabled solutions designed for the office of the CFO. The company was founded by two former private equity professionals in Chicago in 2016, CEO John Signa and CFO Adam East, who have overseen the company’s strategic expansion into eight additional markets: Austin, Dallas, Charlotte, New York City, Los Angeles, San Francisco, Seattle and Portland. Today, the firm serves as an extension of its clients’ teams representing over 100 alternative investment fund managers, including private equity, venture capital, hedge and real estate funds. As an outsourced provider of CFO and fund administration services to the alternative investment industry, E78 is responsible for more than $30 billion in assets under administration. Additionally, E78 works with hundreds of private equity and venture capital-backed portfolio companies providing a range of finance, accounting and technology solutions that support value creation initiatives and operational efficiency across the office of the CFO. The company has a team of more than 250 professionals across 8 offices.

E78 recently completed a series of strategic acquisitions that have positioned the company as one of the leading providers of professional solutions to the private capital industry. Over the past year, E78 has acquired four companies: Agile Fund Solutions, a provider of institutional-quality outsourced CFO, COO and CCO consulting services to the alternative investment industry; NextLevel, a provider of C-suite financial and operational management consulting services; 9Gauge Partners, a firm specializing in serving the needs of venture capital- and private equity-backed portfolio companies; and Stride Accounting Solutions, a finance-as-a-service firm that delivers institutionally backed, high-growth organizations a range of managed accounting and finance services. E78 plans to leverage the partnership with Further Global to continue its M&A strategy, focusing on firms that further enrich and expand the service offering.

John Signa, CEO and founder of E78 Partners, said, “Over the years, we’ve been highly selective when it comes to the partners we choose to work with – all of our relationships are built on a common vision of value-directed growth and an appreciation for our core principles of expertise, entrepreneurial drive, collaborative effort and mutual respect. That’s what makes Further Global such an ideal fit for us; they share our culture and ambition in every regard, and we feel privileged to move forward with them. Our exceptional team has achieved great success in the past few years, and with Further Global as our partner, we are better positioned than ever to introduce our unique business model to the broader private equity industry and accelerate our growth through M&A.”

Max Baumrin, a partner at Further Global Capital Management, said, “We have been following the success story at E78 for a long time and are thrilled to be partnered with John and the management team for the next phase of the company’s growth. Over the past five years, the E78 team has built an impressive platform that delivers value-added services to the private equity industry, where we see significant tailwinds. We look forward to supporting E78’s continued expansion both organically and through acquisitions.”

E78 Partners was advised by Houlihan Lokey as financial advisor and Katten as legal counsel. Further Global was advised by Kirkland & Ellis as legal counsel. Debt financing for the transaction was provided by Churchill Asset Management.

ABOUT E78 PARTNERS
E78 Partners is a professional services firm with 250+ senior industry experts specializing in accounting, finance and technology services and solutions. Founded in 2016 by private equity professionals, E78 works with more than 750 clients including private equity, hedge funds, family offices, portfolio companies and private companies representing more than $30 billion in assets under management. Engagement teams are led by senior staff members with deep fund, operations and industry experience, in addition to an understanding of the unique needs of private equity funds and portfolio companies. Learn more at e78partners.com.

ABOUT FURTHER GLOBAL CAPITAL MANAGEMENT
Further Global Capital Management is an employee-owned private equity firm that makes investments in businesses within the financial services industry. Further Global seeks to be a true partner with the management teams with whom it invests with an objective to be the "Capital Partner of Choice" to the industry. Further Global seeks out situations in which its extensive network, operational expertise and capital can drive significant value. Further Global has raised over $2 billion of cumulative committed and invested capital. For more information, please visit furtherglobal.com.

MEDIA CONTACTS & INQUIRIES
Bruce Kassover
bkassover@e78partners.com 
(954) 684-0475



E78 Partners acquires Agile Fund Solutions, combined firm represents $30 billion of assets under management

Expanded firm’s 250+ team members now serve more than 125 alternative investment fund managers across private equity, venture capital, hedge and real estate

Chicago, New York, San Francisco, Los Angeles, Charlotte (September 14, 2021) – E78 Partners, a leading provider of finance, accounting and technology solutions for private equity firms, venture capital firms and their portfolio companies, has completed the acquisition of Agile Fund Solutions, a U.S.-based provider of institutional-quality outsourced CFO, COO and CCO consulting solutions to alternative investment managers. As a result, E78 Partners’ 250+ team members now serve over 125 alternative investment fund managers with responsibility for more than $30 billion in assets under management and have accelerated value creation for more than 300 institutionally backed portfolio companies and management teams.

This strategic acquisition transforms E78 Partners’ fund solutions practice and marks a key milestone in the firm’s strategy to continue to grow its national fund services business and diversify its asset manager client base. The deal underscores E78 Partners’ commitment to growing the private capital fund services market and builds upon E78 Partners’ other recent acquisitions that expanded the services and solutions it offers to institutionally backed portfolio companies.

John Signa, E78 Partners’ Founder and CEO stated, “We are delighted to welcome Vince Calcagno, Nick Castoria and the entire Agile Fund Solutions team to E78 Partners. Their deep domain expertise and experience as outsourced CFOs, CCOs and COOs greatly compliments our tech-enabled fund administration practice, offering a complete outsourced back-office solution for the private capital market, while their commitment to client service excellence aligns with our passion for exceeding our clients’ expectations.”

Agile Fund Solutions is an independent outsourced financial and operational services firm that has been serving the alternative investment industry for more than 10 years. Agile’s comprehensive suite of services is designed to fulfill the complete range of CFO, CCO and COO functions, including accounting and performance reporting and reconciliation, investor relations, compliance reviews, trading operations, management company records and data management.

Vince Calcagno, chief executive officer of Agile, joins E78 Partners as an executive managing director focused on the full stack of outsourced solutions for private funds, family offices and companies. Nick Castoria, founder and chief operating officer of Agile, joins E78 Partners as managing director and will be responsible for the day-to-day oversight of the fund solutions business unit. E78 Partners’ Chris Rakers will lead the private equity and venture capital group; Jared Elfvin, also from E78, will lead the real estate group; and Agile’s Paul Fitzpatrick will lead the hedge fund and family office groups. Agile’s high-quality, tenured team of professionals will join E78 Partners immediately as part of the acquisition.

“Joining forces with E78 creates incredible opportunities for both of our organizations, but even more importantly, for our clients,” said Castoria. “We have extensive hands-on experience running highly effective back-office teams, and we’ve built out operational, financial, compliance and accounting functions for hundreds of investment managers.” 

“As important as it was for the companies’ respective service lines to complement one another, equally important was that the firms share the same foundational principles, culture and values,” said Calcagno. “Both operate with an entrepreneurial culture that is highly focused on delivering investment managers the support they need to scale their asset management business while providing their team members rewarding career opportunities.”

“This acquisition reinforces our commitment to becoming the most complete solutions partner for the office of the CFO within the private investment industry,” said Seth Deutsch, E78 Partners’ chief growth officer. “Our Fund Solutions practice is delivering tremendous organic growth and we are further strengthening our team with a series of carefully selected M&A transactions. The acquisition of Agile is an important step forward for E78 Partners.”

Agile will continue to operate under its established brand during a transition period, and its full leadership team and staff remain on board. Terms of the transaction were not disclosed.

For more information about E78 Partners, visit e78partners.com. More information about Agile is available at Agilefs.com.


ABOUT E78 PARTNERS

E78 Partners is a professional services firm specializing in accounting, finance and technology services and solutions. Founded in 2016 by private equity professionals, E78 Partners’ engagement teams are led by senior staff members with deep fund operations and industry experience, and they all operate with an understanding of private equity funds’ and portfolio companies’ unique needs. More information is available at e78partners.com.


ABOUT AGILE FUND SOLUTIONS

Agile Fund Solutions’ outsourced business model helps clients aim higher and reach the next level of their business, supporting firms moving through a wide range of AUM milestones, from $50 million to $500 million and beyond. The company’s fully customizable solutions and flexible operating paradigm deliver efficient operational solutions almost instantaneously and with a minimal commitment of capital.


MEDIA CONTACTS & INQUIRIES

E78 Partners
Bruce Kassover
954-684-0475
bkassover@e78partners.com