Alchelyst
Overview
Alchelyst is a full-service fund administrator specializing in alternative asset classes, providing modern infrastructure solutions for private equity, private credit, real estate, hedge funds, emerging managers, and funds of funds. Founded in 2023 by Joan Kehoe, Brian Fitzgerald, and Ian Lynch, the company is headquartered in Dublin, Ireland, and has expanded operations to locations in India, Luxembourg, and the US. Alchelyst employs innovative technology to enhance client experience, underpinned by its proprietary platform, Aurum.
Recent Developments
- August 2025: Alchelyst announced a merger with Lyra Client Solutions, a tech-enabled client servicing firm spun out from Apollo. This merger aims to create a next-generation private markets servicing platform, expected to close in the fourth quarter of 2025.
- April 2025: Alchelyst entered a partnership with Fund Recs to utilize its reconciliation software. This collaboration aims to address industry challenges such as staff turnover and the limitations of legacy technology.
- The merger with Lyra, backed by Motive Partners and Apollo, is intended to provide enhanced fund administration and client servicing capabilities across institutional and wealth channels.
- Joan Kehoe, founder and CEO of Alchelyst, will lead the combined entity, emphasizing innovation in private markets servicing.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2023 |
| Headquarters | Dublin, Ireland |
| Founders | Joan Kehoe, Brian Fitzgerald, Ian Lynch |
| Revenue | $1M to $5M |
| Industry | Fund Administration |
| Number of Employees | Approximately 18 |
Early History
Alchelyst was established in 2023, driven by founders with extensive experience in fund administration and financial services. Joan Kehoe and her co-founders aimed to address inefficiencies in the alternative asset management sector by leveraging state-of-the-art technology and deep industry knowledge. Prior to founding Alchelyst, the team members had held significant roles in major institutions like J.P. Morgan, contributing to transforming operational frameworks and financial technology advancements.
Company Profile and Achievements
Alchelyst operates as a full-service fund administrator with a keen focus on alternative investment funds. The company is distinguished by its employee ownership structure and its proprietary platform, Aurum, which facilitates automated data flows and real-time updates. Major achievements include:
- Establishing a differentiated fund servicing model that combines technology and personalized client service.
- Expanding operations across multiple international jurisdictions, including Ireland, India, and the USA.
- Participating in a merger to enhance service offerings with the support of industry giants like Apollo.
- Partnering with innovative firms like Fund Recs to incorporate advanced reconciliation software.
Current Operations and Market Position
Currently, Alchelyst is positioned as a significant player in the fund administration sector, focusing on the private markets. Its market strategy is characterized by technological integration and efficiency in service delivery, which aims to meet the demands of modern alternative investment managers. Alchelyst's competitive advantage lies in its advanced platform, Aurum, that offers transparency and automation, helping general partners (GPs) maximize operational margins while improving investor experiences.
Conclusion
Alchelyst represents a modern approach to fund administration within the alternative investment sector. By combining innovative technology, expert industry insight, and efficient operations, it has set new standards for fund servicing. Moving forward, the company aims to expand its influence through strategic mergers and partnerships, enhancing client services and maintaining its position at the forefront of private market innovations. The merger with Lyra Client Solutions positions Alchelyst as a leader in creating integrated solutions designed to meet the evolving needs of the global investor community.