IK Partners acquires majority stake in Trustmoore to scale & tech

Trustmoore, the Amsterdam-headquartered fund and corporate services specialist, has agreed a strategic majority sale to European private equity investor IK Partners. The transaction sees IK invest via its IK Small Cap IV Fund, with the firm’s founders and existing management retaining significant equity and operational control. Completion remains conditional on customary regulatory approvals.

Founded in 2005, Trustmoore operates a boutique, client-focused platform across four core lines: fund services, corporate services, capital markets and private client work. The business serves more than 850 client groups across 10 jurisdictions, with pronounced footprints in Luxembourg and the Netherlands. The group employs over 275 professionals, a scale that positions it to capture increasing demand for outsourced fund administration and cross-border compliance support.

The deal reflects two parallel market dynamics: rising regulatory complexity that is pushing asset managers to outsource specialist functions, and an active consolidation cycle in the funds and corporate services segment. Private equity buyers continue to pursue buy-and-build strategies in this space because scale delivers operational efficiencies, a broader product set and the ability to invest in technology and compliance capabilities—all of which matter to institutional clients.

Under the partnership, Trustmoore will continue operating under its existing brand and leadership. The management team has signalled a commitment to uphold the firm’s ‘boutique’ client service model while using IK’s capital and sector experience to accelerate organic growth and pursue targeted acquisitions. That approach mirrors recent successful platform roll-ups in the region, where investors combine bolt-ons, upgrade tech stacks and centralise middle-office capabilities to improve margins.

Founders Steven Melkman and Roland Beunis will remain materially invested alongside the management team. Chief Executive Wouter Plantenga said the partnership enables a faster build-out of services and capacity to support clients facing more complex regulatory and cross-border demands. Onne Tjerkstra, Partner at IK and advisor to the fund vehicle, emphasised IK’s conviction in the market structure and its intent to pursue an accelerated buy-and-build programme to expand Trustmoore’s geographic reach and product offering.

Financial terms were not disclosed. While the precise integration and M&A roadmap will be defined post-closing, the transaction underlines private equity’s appetite for specialised service providers in the financial ecosystem. For clients, the stated priority is continuity: day-to-day teams and contacts will remain in place even as the business scales its technology, compliance and product capabilities.