CHICAGO and NEW YORK, Dec. 2, 2021 — E78 Partners, a rapidly expanding firm specializing in finance, accounting, and technology solutions for the private capital sector, today announced a significant investment from funds managed by Further Global Capital Management, a private equity firm focused on the financial services industry. This partnership with Further Global is set to provide E78 Partners with substantial capital and resources to accelerate its growth trajectory, broaden its service offerings, and extend its geographic reach. Crucially, following this transaction, the E78 Partners management team and employees will retain significant equity stakes in the company, ensuring continued alignment and commitment. The specific financial details of the investment remain undisclosed.
E78 Partners delivers a comprehensive suite of services and tech-driven solutions specifically designed for the CFO’s office, catering to private equity firms, their portfolio companies, and corporate clients. Founded in Chicago in 2016 by former private equity professionals John Signa, now CEO, and Adam East, CFO, E78 Partners has strategically expanded its presence to include eight key markets: Austin, Dallas, Charlotte, New York City, Los Angeles, San Francisco, Seattle, and Portland. The firm now acts as a vital extension of its clients’ teams, serving over 100 alternative investment fund managers, encompassing private equity, venture capital, hedge funds, and real estate funds. As a leading outsourced provider of CFO and fund administration services within the alternative investment landscape, E78 Partners currently oversees assets under administration exceeding $30 billion. Furthermore, E78 Partners collaborates with hundreds of private equity and venture capital-backed portfolio companies, offering a diverse array of finance, accounting, and technology solutions aimed at bolstering value creation initiatives and enhancing operational efficiency across the CFO function. The company boasts a team of over 250 professionals operating across its eight office locations.
In recent times, E78 Partners has strategically completed several acquisitions, solidifying its position as a premier provider of professional solutions within the private capital industry. Over the past year, E78 Partners has successfully integrated four companies into its fold: Agile Fund Solutions, known for its institutional-grade outsourced CFO, COO, and CCO consulting services for the alternative investment sector; NextLevel, a consultancy specializing in C-suite financial and operational management; 9Gauge Partners, a firm focused on serving the unique needs of venture capital and private equity-backed portfolio companies; and Stride Accounting Solutions, a finance-as-a-service firm providing managed accounting and finance services to institutionally backed, high-growth organizations. Looking ahead, E78 Partners intends to leverage its partnership with Further Global to further pursue its mergers and acquisitions strategy, targeting firms that will complement and enrich its existing service portfolio.
John Signa, CEO and founder of E78 Partners, commented, “We have always adopted a highly selective approach to partnerships, ensuring alignment on a shared vision of value-driven growth and a deep respect for our core principles of expertise, entrepreneurial spirit, collaborative teamwork, and mutual respect. Further Global embodies these values perfectly, making them an ideal partner for us. We are excited to embark on this next chapter with them. Our dedicated team has achieved remarkable success in recent years, and with Further Global’s backing, E78 Partners is exceptionally well-positioned to introduce our unique business model to the broader private equity industry and accelerate our expansion through strategic M&A.”
Max Baumrin, a partner at Further Global Capital Management, stated, “We have been closely following the impressive trajectory of E78 Partners and are delighted to partner with John and his management team in this next phase of growth. Over the past five years, E78 Partners has developed a compelling platform that delivers significant value to the private equity industry, a sector experiencing substantial positive momentum. We are enthusiastic about supporting E78 Partners’ continued expansion, both organically and through strategic acquisitions.”
Houlihan Lokey served as financial advisor and Katten Muchin Rosenman LLP as legal counsel to E78 Partners. Kirkland & Ellis LLP provided legal counsel to Further Global. Debt financing for the transaction was arranged by Churchill Asset Management.
E78 Partners is a professional services firm comprised of over 250 senior industry experts specializing in accounting, finance, and technology services and solutions. Founded in 2016 by private equity professionals, E78 Partners serves over 750 clients, including private equity firms, hedge funds, family offices, portfolio companies, and private companies, representing over $30 billion in assets under management. Engagement teams are led by experienced senior staff with in-depth fund, operations, and industry knowledge, and a keen understanding of the specific needs of private equity funds and portfolio companies. Learn more at e78partners.com.
*About Further Global Capital Management**
Further Global Capital Management is an employee-owned private equity firm focused on investments within the financial services sector. Further Global aims to be a true partner to the management teams it invests in, striving to be the “Capital Partner of Choice” within the industry. Further Global actively seeks opportunities where its extensive network, operational expertise, and capital can generate significant value. Further Global has raised over $2 billion of cumulative committed and invested capital. For more information, please visit furtherglobal.com.
SOURCE E78 Partners
