U.S. growth success sets the stage for next phase of global expansion
NEW YORK, May 8, 2025 -- Aztec Group ("Aztec" or the "Group"), a leading international fund and corporate services provider to the alternative investments industry, has announced the completion of its strategic partnership with global growth investor Warburg Pincus, following receipt of regulatory approvals.
The transaction marks a major milestone in Aztec's long-term growth journey, bringing on board Warburg Pincus as both a minority shareholder and key client. The partnership will support Aztec's continued expansion into high-growth global markets, particularly the United States, where the Group saw a standout year in 2024.
"Our vision has always been clear: to deliver a truly premium service to private market clients, built on close relationships, technical strength and operational excellence," said Kathryn Purves, CEO of Aztec Group. "Partnering with Warburg Pincus brings together two organizations with shared ambition - our client-first culture and specialist expertise, and their global reach and experience backing high-growth businesses. This partnership enables us to scale with purpose, while staying true to what makes Aztec special: our people, our culture and our commitment to client service."
Warburg Pincus, which manages more than $87 billion in assets, has chosen Aztec as a preferred provider for specific fund administration services on a global scale. This decision reflects the team's confidence in Aztec's growth trajectory and commitment to delivering long-term value to its clients.
Andrew Sibbald, Managing Director and Head of Europe at Warburg Pincus, added: "We have been eagerly awaiting this moment since we announced our investment in Aztec some nine months ago. Our enthusiasm for the business and the market opportunity has only grown in the interim and we very much look forward to developing a strong partnership between our organizations, both as a substantial client and shareholder, over the coming years. We share management's ambition for continued growth and the technological enhancement of Aztec's proposition, together with their belief that excellent client service should remain at the heart of everything we do."
The partnership builds on a year of exceptional performance in the U.S. Aztec has rapidly expanded its footprint and been recognized by the industry, driven by new client wins and deepening client relationships across the U.S.- EU corridor. The team scaled significantly, with key senior hires brought in to lead across private credit and investor services.
Aztec's growth in the U.S. is underpinned by its decades of experience in back-office operations, with deep expertise in fund accounting, investor services and operational compliance. As outsourcing continues to become more prevalent among U.S. managers - particularly those seeking to scale efficiently - Aztec's established track record and dedicated local teams offer a proven, institutional-grade solution.
"This year's growth reflects our commitment to building a team that prioritizes client success, new product offerings and existing product extension along with operational excellence," said Scott Kraemer, Head of U.S. Markets. "The future holds exciting opportunities, and our partnership with Warburg Pincus positions us to continue driving growth and achieving exceptional results."
As it enters its next chapter, Aztec Group remains focused on delivering best-in-class service, deepening its U.S. presence, and strengthening its position as a premium global partner to private markets clients.
About the Aztec Group
Established in 2001, the Aztec Group is an award-winning independent provider of fund and corporate services, employing more than 2,000 people across the UK, U.S., Luxembourg, Ireland and the Channel Islands. Owner-managed, the Group specializes in alternative investments, administering more than $600 billion in assets, 450 funds and 4,500 entities for a range of clients, spanning the major asset classes including private equity, venture capital, private debt, real estate and infrastructure.
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