Alchelyst, a fund administrator for alternative asset managers, and Lyra Client Solutions, a technology-enabled client servicing organization spun out from Apollo, announced their merger to create a scaled platform for private markets servicing. Supported by Motive Partners and Apollo, the combined company will integrate Alchelyst’s fund administration expertise with Lyra’s advanced client servicing solutions to offer differentiated capabilities to general partners across both institutional and wealth channels. 

The merged organization will be led by Joan Kehoe, Founder and CEO of Alchelyst, who previously served as global head of alternative investment services at J.P. Morgan. Kehoe brings decades of experience in building and scaling financial services businesses, including her leadership roles at Quintillion Limited, which she founded, and PFPC International Limited, where she was CEO. 

“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,” said Kehoe, who will serve as CEO upon close of the transaction. 

The merger, which underscores growing demand for integrated fund administration and investor servicing platforms, is expected to close in the fourth quarter of 2025.