Macfarlanes is advising Evelyn Partners on the sale of its Fund Solutions business to Thesis Holdings Limited. The transaction, which is subject to customary regulatory conditions, is expected to complete in H1 2025.

Evelyn Partners Fund Solutions Limited is a long-established provider of Fund Governance and Fund Administration services. It has grown to become a leading Independent Authorised Corporate Director to UK-domiciled funds, with Assets under Governance of £10.6bn (as at 30 December 2024).

Thesis is a UK-based operator of funds, established in 1997, which manages 170 funds with over £40bn of assets.

In November 2024, Evelyn Partners also announced the sale of its Professional Services business to funds advised by Apax Partners, a transaction on which Macfarlanes is also advising. These transactions resulted from a strategic review at Evelyn Partners, aimed at refocusing on its core wealth management activities. Macfarlanes has advised Evelyn Partners on numerous transactions in recent years, including on the merger between Tilney and Smith & Williamson, and the related co-investment by Warburg Pincus alongside the group’s controlling investor, Permira.

The Macfarlanes team is being led by corporate and M&A partner Tom Rose, supported by corporate and M&A senior associate Steve Siopis and associates Helen Connolly and Saajidah Ahmed.

The transaction involves several teams across the firm, including tax and reward partner Jeremy Moncrieff and associates Jack Slater and Alec Siegert, commercial partner Will Hedges and associate Markos Day, real estate associate Russell Fancourt, employment senior associates Olivia Wistow-Hughes and Louise Pereira, and competition senior counsel Caja Griesenbach.