General Atlantic and Hg Capital completed the investment in Gen II Fund Services.

Private equity firms General Atlantic and Hg Capital completed the investment in Gen II Fund Services, an independent private equity fund administrator. IHS Markit, a global investor in software and services, also made a minority investment in the company. Cobepa, a privately-held investment company, continued to hold a minority position. Financial terms were not disclosed. “We are excited to partner with General Atlantic, Hg and IHS Markit to make Gen II even stronger. Our new investors each bring game-changing expertise to our Firm and our clients. General Atlantic brings 40 years of global growth equity investing and will be superb advisors as we expand our capabilities and reach. Hg, the largest software investor in Europe, brings deep software and service business intelligence that we will leverage to help refine our products. And IHS Markit, developers of WSO Software and iLEVEL, brings technology, analytics and product expertise that will help us transform the features and performance of our platform. This is a powerhouse combination,” Steven Millner, Steven Alecia and Norman Leben, Gen II co-founders.