Fund Services Group

What Fund Services Group does

Fund Services Group (FSG) is a U.S.-based professional services firm founded in 2021 by Isaiah Massey and Heather Delgado, both formerly senior executives (CFO/CCO and COO respectively) at a prominent private fund manager in Houston, Texas. The company provides outsourced CFO, Investor, IT, and Fund Administration services to alternative-investment managers and private fund sponsors, covering fund structuring, accounting and NAV calculations, RIA compliance (Form ADV, Form PF, Form 13F, FATCA/CRS), investor onboarding and lifecycle management, AML/KYC, managed IT/cybersecurity, and audit coordination. The firm serves enterprise clients including fund-of-funds managers, venture capital sponsors, classical alternative-investment managers, and growth-focused asset managers, with documented engagements involving 1,000+ investor transitions and master-feeder rollups of 10+ SPVs.

FSG's core technology layer is not proprietary; the firm describes itself as "tech-driven" but selects and integrates best-in-class third-party tools for NAV, investor portals, and compliance, with no disclosed platform or AI/ML capability. Revenue is generated through bespoke retainer engagements billed primarily on an annual cadence under subscription/managed-services models, with pricing tailored to client scope. The go-to-market is direct, consultative enterprise sales led by the Managing Partners, supported by thought leadership, industry-event speaking, case-study content on the corporate website, and referral-driven growth; the team operates as a distributed, remote workforce across the United States, anchored culturally by stated principles of integrity, effort, communication, and family time.

Name

Fund Services Group

Legal name

Fund Services Group

Website

https://fundservicesgroup.com

Company type

Private

Founded year

2021

Operating status

Operating

Headcount range

11–50 employees

Short description

Fund Services Group (FSG) is a U.S. professional services firm that provides outsourced CFO, investor, IT, and fund administration services to alternative-investment managers and private fund sponsors, covering fund accounting, NAV, compliance, and investor lifecycle operations under bespoke retainer engagements.

Ownership category

akta.pro rank

Product category

Fund Administration Services

NAICS

Funds, Trusts, and Other Financial Vehicles (525), Other Financial Vehicles (52599)

SIC

Finance Services (6199)

akta.pro primary industry

Sub-Accounting & Platform Servicing (Omnibus, Intermediary/NSCC, Retirement Platforms) (FSAAAMAI)

akta.pro secondary industry

Fund of Funds & Multi-Manager Mutual Funds (FSAAAEAL)

Keywords

• Fund administration
• Outsourced CFO services
• Investor services
• Alternative investment operations
• Private fund services

Headquarters

HQ city

Houston

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Outsourced CFO Services: Ongoing retainer engagements for CFO-level financial, compliance, and reporting support for private fund managers and registered investment advisers. Includes RIA compliance, fund structuring, accounting, and vendor supervision.
2. Outsourced Investor Services: Recurring investor lifecycle services including onboarding, communications, transaction processing, and record keeping for fund sponsors.
3. Outsourced IT Services: Managed IT services for asset management firms including user support, network management, security, and compliance-aligned technology solutions.
4. Fund Administration Services: Pre-launch and post-launch fund administration including NAV calculations, financial statements, treasury management, audit coordination, and investor reporting for private fund structures.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Fund Services Group (FSG) provides outsourced CFO, investor, IT, and fund administration services to private fund sponsors and alternative investment managers. The offering covers fund structuring, accounting, NAV calculations, investor onboarding and lifecycle management, RIA compliance, cybersecurity, and managed IT — delivered through retained engagements by a distributed US-based team.

Product overview

Fund Services Group (FSG) offers a unified suite of four integrated outsourced service products for private fund sponsors: Outsourced CFO Services, Outsourced Investor Services, Outsourced IT Services, and Fund Administration Services. These services are designed to work together to handle the operational challenges of fund management—from private fund structuring, accounting, and reporting (CFO Services) to investor onboarding, communications, and transaction processing (Investor Services) to IT infrastructure and cybersecurity (IT Services) to NAV calculations, treasury management, and regulatory compliance (Fund Administration). The company was founded in 2021 and serves fund sponsors across the United States.

Differentiator

Problem solved

Functional benefit

Products and services

• Outsourced CFO Services Provides comprehensive outsourced chief financial officer services for private fund sponsors, focusing on private fund structuring, accounting, reporting, RIA compliance, and vendor selection, integration, and supervision.
• Outsourced Investor Services Provides a curated and enhanced investor journey from onboarding through reporting, including investor onboarding, communications, transaction processing, and record keeping for private fund sponsors.
• Outsourced IT Services Provides managed user and network support along with cybersecurity, IT strategy, and regulatory-compliance-aligned technology solutions designed specifically for asset management firms.
• Fund Administration Services Scalable, tech-driven fund administration solutions covering NAV calculations, treasury support, compliance, reporting, fund accounting, investor services, and regulatory support for private fund structures.

Quantifiable outcome

• Client revenue increased by over 25% in the initial year of new strategic approach using hybrid master-feeder structure
• +5 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators5 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• Citco Fund Services: Citco is one of the largest independent fund administrators globally, serving hedge funds, private equity, and real estate funds with NAV calculations, financial reporting, and investor services. It directly overlaps FSG's core offering but with global infrastructure and significantly larger AUA.
• SS&C Technologies: SS&C is a large, publicly traded financial services software and services company with a major fund administration business (SS&C GlobeOp, SS&C Intralinks). It competes with FSG across NAV, investor services, and outsourced operations for alternative fund managers, but at far greater scale and with proprietary technology.
• Maitland Fund Services: Maitland is a global fund administration and investor services firm serving alternative investment managers. It competes with FSG in NAV calculation, investor reporting, and fund accounting for hedge funds and private equity sponsors, with broader geographic reach.
• Standish Management (BNY Mellon): Standish is a fund administration and outsourced CFO services firm serving private fund sponsors, now part of BNY Mellon. It competes head-to-head with FSG for mid-market alternative fund sponsors but benefits from BNY Mellon's balance sheet, technology, and scale.

Direct peers

• Opus Fund Services: Opus is a fund administrator focused on alternative investment managers (hedge funds, private equity, venture capital), offering NAV calculations, financial reporting, and investor services. It directly overlaps FSG's core fund administration offering with a similar mid-market sponsor target.
• Theorem Fund Services: Theorem is a cloud-native fund administrator serving alternative investment managers with NAV, investor services, and reporting. It is a direct competitor to FSG in the mid-market fund administration segment, differentiated by its technology-first delivery model.
• Gen II Fund Services: Gen II is a mid-market-focused fund administrator specializing in private equity, real estate, and hedge fund administration. It is one of FSG's most direct competitors, serving a similar sponsor profile with comparable fund administration, investor services, and outsourced CFO offerings.
• Circle Partners: Circle Partners provides outsourced CFO, fund administration, and operational services to private fund sponsors in the alternative investment space. It is closely comparable to FSG's integrated CFO-plus-administration offering for emerging and mid-market fund managers.

Emerging players

• ACA Compliance Group: ACA provides governance, risk, and compliance services to the asset management industry, including RIA compliance, AML, and operational support. It overlaps with FSG's Outsourced CFO and compliance services but does not offer full fund administration, making it a partial competitor.

Regional players

• CAZ Investments: CAZ Investments is an alternative investment platform where several FSG alumni previously worked (notably multiple directors and VPs). While primarily an investment manager rather than service provider, it represents the type of regional alternative sponsor FSG serves, illustrating competitive overlap on the operational services front.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles26 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fund Services Group