CINCINNATI--(BUSINESS WIRE)--Ultimus Fund Solutions, LLC (Ultimus) announced today that it has been chosen by Galapagos Partners, L.P. (Galapagos), a multi-family office based in Houston, to provide fund administration services for a recently launched domestic equity mutual fund. Galapagos launched the fund through the Ultimus Managers Trust, leveraging the firm's infrastructure and expertise to gain operational efficiencies and the ability to scale its investment strategy to outside assets. This is the latest manager and the first multi-family office to choose the firm's series trust offering, as Ultimus continues its leadership role in the mutual fund industry.
Galapagos pointed to Ultimus’ distribution expertise, deep industry knowledge and scalable technology solutions as key factors in the selection process. Ultimus’ ability to act as the fund's chief financial officer and chief compliance officer were also identified as important factors in the decision.
“We have seen more and more investment managers launching mutual funds as a way to gain operational efficiencies and new distribution opportunities and the multi-family office space is the next logical place for the trend to take hold," said Bob Dorsey, Co-Founder and Managing Director at Ultimus."Our series trust offering was an ideal fit for Galapagos because it allows them to access our expertise and launch their fund quickly without building or maintaining their own infrastructure. We're excited to partner with them as they take this next step in the evolution of their business."
“We have known for some time that we wanted to gain the advantages of launching a fund but we also knew that we didn't want to be in the fund administration business,” Stephen Lack, Founder, President and CIO at Galapagos said. “As we went through the process of looking at potential partners, Ultimus rose to the top with the strategy they provided and the track record they've demonstrated as a series trust provider. We are confident they are the partner to help us grow our fund effectively and provide the support and the infrastructure needed to carry out our growth plans. We're delighted to work with them on this exciting new venture."
About Ultimus Fund Solutions
Ultimus Fund Solutions provides highly customized and comprehensive mutual fund services to small-and medium-sized fund groups. The company offers mutual fund startup and organization services, fund administration, fund accounting, transfer agent and distribution services for both open-end and closed-end funds. Ultimus’ broad range of services are performed by teams of CPAs, attorneys, paralegals and other professionals with a wealth of mutual fund experience.
For more information, visit www.ultimusfundsolutions.com.