Gen II Fund Services acquired Quilvest Luxembourg Services, a provider of private equity and real estate administration services, from Quilvest Private Equity. Financial terms were not disclosed. QLS is a Quilvest affiliate based in Luxembourg. The transaction is subject to regulatory approval. Upon closing,​ QLS will change its name to Gen II Luxembourg Services. "We are extremely fortunate to be aligning with Quilvest Private Equity. Quilvest has approximately 125 professionals (of which 55 work at QLS) focused on providing private equity and real estate investment programs to investors worldwide. The QLS platform will enable Gen II to further develop its relationship with Quilvest, while also providing Gen II's clients with capabilities to have a Luxembourg base of operations and trusted partner in Europe,​" Norman Leben, Managing Principal and Co-Founder of Gen II.