Key Takeaways
- • One Group Solutions, a Luxembourg-headquartered fund governance provider, reports revenue growth of 30% to 40% over the last few years, according to CEO and co-founder Steve Bernat speaking to Paperjam.
- • The company oversees approximately $55bn in assets under management and supports around 1,000 funds and entities, with roughly 200 employees, about 100 of them in Luxembourg.
- • US-based New Private Equity has acquired a "sizable minority investment" in One Group Solutions following regulatory approval; financial terms were not disclosed and the founders and employees retain majority control.
- • Approximately 70% of AUM is linked to alternative fund structures, and the company reports efficiency gains of up to 50% or more in some processes from automation and AI investments.
- • Management plans organic growth and selective expansion into Switzerland, the Cayman Islands and the Channel Islands, with Luxembourg remaining the headquarters.
Summary
Luxembourg-headquartered One Group Solutions is approaching 200 employees and overseeing approximately $55bn in assets under management, seven years after launching with a team of ten people. Speaking to Paperjam, CEO and co-founder Steve Bernat said the group's revenue has grown between 30% and 40% over the last few years, adding, "We are now at an inflection point." The company currently supports approximately 1,000 funds and entities.
The company recently finalised a minority investment from US-based New Private Equity, following regulatory approval. Bernat described it as a "sizable minority investment" but did not disclose financial terms. He insisted the investment will not change One Group Solutions' governance or business model. The company remains majority-owned by its founders and employees, with the two co-founders retaining significant stakes. The investor has gained additional board seats, while existing shareholders keep the majority. Beyond capital, the partnership is expected to bring expertise and accelerate the company's technology roadmap.
Bernat believes consolidation in Luxembourg's fund services industry has largely run its course, noting there are few remaining totally independent providers. He said third-party management companies currently oversee only around 20% to 25% of assets, leaving considerable room for outsourcing. Despite its new financial resources, the company does not intend to pursue an aggressive acquisition strategy; targeted deals may be considered where they complement existing activities, but organic growth remains the priority.
Technology is central to the strategy. The company built its infrastructure from scratch at its 2019 founding and has invested millions of euros over the past two years in automation and artificial intelligence. Bernat said "efficiency gains of up to 50% or more" are already visible in some processes, but rejected the idea that automation will reduce headcount, citing employee turnover of approximately 4%. He stressed that human oversight remains essential for compliance and governance decisions.
Alternative assets make up about 70% of AUM, reflecting early positioning in private equity, private debt and other alternative strategies. Bernat expects demand to grow as international managers establish Luxembourg vehicles, and sees continued expansion of evergreen and semi-liquid funds supported by Luxembourg's regulatory framework, including Part II funds. The company is active in Luxembourg, Ireland and the United Kingdom and is evaluating Switzerland, the Cayman Islands and the Channel Islands, with expansion driven by client demand. Looking toward 2030, Bernat expects the company to become a broader international governance solutions platform while Luxembourg remains its headquarters.
The company recently finalised a minority investment from US-based New Private Equity, following regulatory approval. Bernat described it as a "sizable minority investment" but did not disclose financial terms. He insisted the investment will not change One Group Solutions' governance or business model. The company remains majority-owned by its founders and employees, with the two co-founders retaining significant stakes. The investor has gained additional board seats, while existing shareholders keep the majority. Beyond capital, the partnership is expected to bring expertise and accelerate the company's technology roadmap.
Bernat believes consolidation in Luxembourg's fund services industry has largely run its course, noting there are few remaining totally independent providers. He said third-party management companies currently oversee only around 20% to 25% of assets, leaving considerable room for outsourcing. Despite its new financial resources, the company does not intend to pursue an aggressive acquisition strategy; targeted deals may be considered where they complement existing activities, but organic growth remains the priority.
Technology is central to the strategy. The company built its infrastructure from scratch at its 2019 founding and has invested millions of euros over the past two years in automation and artificial intelligence. Bernat said "efficiency gains of up to 50% or more" are already visible in some processes, but rejected the idea that automation will reduce headcount, citing employee turnover of approximately 4%. He stressed that human oversight remains essential for compliance and governance decisions.
Alternative assets make up about 70% of AUM, reflecting early positioning in private equity, private debt and other alternative strategies. Bernat expects demand to grow as international managers establish Luxembourg vehicles, and sees continued expansion of evergreen and semi-liquid funds supported by Luxembourg's regulatory framework, including Part II funds. The company is active in Luxembourg, Ireland and the United Kingdom and is evaluating Switzerland, the Cayman Islands and the Channel Islands, with expansion driven by client demand. Looking toward 2030, Bernat expects the company to become a broader international governance solutions platform while Luxembourg remains its headquarters.
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