Evelyn Partners Group has completed the sale of its fund solutions business, operated by Evelyn Partners Fund Solutions Limited (EPFL), to Thesis Holdings.

The sale of the business, for an undisclosed sum, was initially agreed in January 2025, and follows the sale of Evelyn Partners’ professional services business in March 2025.

Evelyn Partners said the sale of EPFL refocused the firm on its wealth management activities.

The acquisition sees Thesis expanding its independent fund governance and administration business, which will manage 330 funds with more than £50bn of assets.

A total of 75 staff who support the EPFL business, predominantly based in Glasgow, will transfer across to Thesis.

Evelyn Partners was advised on the transaction by Evercore, as financial adviser, and Macfarlanes as legal adviser, while Thesis was advised by Bryan Cave Leighton Paisner LLP.

Commenting on the completion of the deal, Evelyn Partners chief executive, Paul Geddes, said: “The sale of EPFL to Thesis means Evelyn Partners is now focused solely on wealth management activities.

“I would like to thank the team at EPFL for their commitment and professionalism and wish them well for the future as part of Thesis.

“We look forward to an ongoing relationship with the team, who will continue to act as ACD and fund administrator to numerous funds where Evelyn Partners is the delegated investment manager and where clients with benefit from complete continuity in service.”

EPFL chief executive, Neil Coxhead, stated: “We are excited to be joining Thesis today. The deal provides long-term clarity on our future, with increased opportunities for colleagues as part of a market leading UK asset servicing group while continuing to work with Evelyn Partners as a valued wealth management partner.

“Our sponsors and delegates can expect business as usual, with the team continuing to be based in Glasgow and focused on delivering the high standards of service and partnership-led approach to which they have become accustomed.”

Thesis chief executive, David Tyerman, added: “I’m delighted to be welcoming the EPFL team to Thesis. Their reputation in the market is excellent and, like us, they have a culture founded in high-quality professional services.

“Having EPFL in the group increases choice for our sponsors, as well as introducing greater scale for Thesis. Ultimately this will ensure good outcomes for our fund investors.”

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