Alchelyst and Lyra Client Solutions have agreed to merge, forming a next-generation private markets servicing platform designed to enhance fund administration and tech-enabled client servicing for institutional and wealth clients.

The transaction, supported by private investment firm Motive Partners and global alternative asset manager Apollo, is set to close in the fourth quarter of 2025, subject to customary approvals. The combined platform will offer operational excellence, intelligent automation, and real-time transparency at scale for general partners seeking to meet growing investor expectations while managing costs and efficiency.

Joan Kehoe, founder and CEO of Alchelyst, will lead the new organisation. Kehoe, who previously served as Global Head of Alternative Investment Services at J.P. Morgan, said: “The combination of Alchelyst and Lyra creates a differentiated partner that can lead the next wave of innovation in private markets servicing, supporting GPs with a growing base of investors across the institutional and wealth channels.”

Eileen Sivolella, board chair of Lyra, noted that combining Alchelyst’s fund administration technology with Lyra’s client servicing capabilities positions the new entity to meet the evolving demands of asset managers in expanding private markets.

Alchelyst was founded in 2023 and operates across Dublin, India, Luxembourg, and the US. Lyra has offices in New York, Greenwich, Irvine, and Mumbai, serving institutional, global wealth, and family office investors.

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