First Names Group

What First Names Group does

First Names Group, operating under the IQ-EQ brand, is a Luxembourg-headquartered global investor services group providing fund administration, regulatory compliance, depositary, corporate administration, and compliance technology services to alternative asset managers, asset owners (family offices, UHNW individuals, sovereign wealth funds, pensions, endowments), and corporate clients active in debt and capital markets. The group operates across 25 jurisdictions with 6,500+ employees, holding regulated entity status under local supervisors (FCA, CIMA, CSSF, AMF, JFSC, GFSC, IFSCA, DFSA, FSRA) and maintaining four regulated AIFM platforms in Europe that enable U.S. and non-EU managers to access European capital under AIFMD. Recent acquisitions include Zenith Global (May 2026, Italy) and ComplianceAsia (2023, APAC), with dedicated proprietary technology platforms including MaxComply™ for AML/KYC onboarding, gVue for compliance monitoring linked to 4,000+ brokerages, IQ-EQ Cosmos (Snowflake-based) for private debt data aggregation, and GAIA for securitisation and master servicing.

The business operates on a recurring-fee, multi-year contractual retainer model across five primary revenue streams: fund administration (NAV calculation, waterfall modeling, portfolio monitoring), regulatory compliance (hosting, third-party AIFM, MiFID), depositary services (primarily Luxembourg), corporate and entity administration (trusts, foundations, SPVs), and technology services (gVue SaaS-style platform). Distribution is exclusively direct enterprise field sales led by relationship directors and senior account managers with minimum 20 years of industry experience — there are no reseller, marketplace, or self-serve channels. Target clients are institutional, with named customers spanning financial services (Merchants Capital), technology (F5 Inc.), and private equity (LT Capital). The group supports 370+ evergreen, open-ended, and semi-open fund structures globally with 120+ dedicated specialists, and provides valuation committee services to over 160 funds.

Name

First Names Group

Legal name

IQ-EQ Group Holdings S.à r.l

Website

https://iqeq.com

Company type

Private

Founded year

1988

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

IQ-EQ (formerly First Names Group) is a Luxembourg-headquartered global investor services group providing fund administration, regulatory compliance, depositary, and corporate administration to alternative asset managers, asset owners, and corporate clients across 25 jurisdictions.

Ownership category

akta.pro rank

Product category

Fund Administration and Investor Services

NAICS

Finance and Insurance (52), Funds, Trusts, and Other Financial Vehicles (525), Portfolio Management and Investment Advice (52394)

SIC

Finance Services (6199), Asset-Backed Securities (6189), Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro primary industry

Risk, Compliance & Controls for Embedded Finance (KYB/KYC/AML, Fraud, Disputes) (FSAGALAK)

akta.pro secondary industries

Intercompany & Consolidation Support (Eliminations, Group Reporting Support) (BPAAAGAG), Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL)

Keywords

• Fund administration services
• Regulatory compliance services
• Depositary services
• Corporate administration services
• Investor services

Headquarters

HQ city

Luxembourg

HQ country

Luxembourg

HQ region

Europe

Offices26 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Fund Administration Services: Full-service fund administration for alternative investment vehicles including hedge funds, private equity, venture capital, real assets, private debt, and hybrid/evergreen funds. Services include NAV calculation, complex waterfall modeling, portfolio monitoring, and reporting. Typically structured as recurring service fees under multi-year contractual agreements.
2. Regulatory Compliance Services: Regulatory hosting (appointed representative arrangements), third-party AIFM services under AIFMD, FCA compliance consulting, and MiFID services. Includes ongoing regulatory reporting, risk management oversight, and governance support. Charged as recurring service retainer.
3. Depositary Services: Depositary and depository services primarily in Luxembourg, covering AIFMD depositary obligations for alternative investment fund managers.
4. Corporate and Entity Administration: Corporate administration, trust and foundation administration, SPV management, global entity management for corporate structures. Services to asset owners including family offices, foundations, and pension funds.
5. Technology Services (gVue): Compliance technology platform providing employee compliance monitoring including personal trading, political contributions, and outside business activities. Delivered as a SaaS-style platform to investment managers.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels7 records

Core offering

IQ-EQ (operating under trading names including First Names Group, FNTC, G10, and Zenith Global) is a global investor services group providing fund administration, regulatory compliance, depositary, corporate administration, and asset servicing to alternative investment fund managers, asset owners (family offices, UHNW individuals, sovereign wealth funds, pensions/endowments), and debt/capital markets/corporate clients. Services span hedge funds, private equity, venture capital, real assets, private debt, digital assets, hybrid/evergreen structures, securitisation, CLOs, and SPV management across 25 jurisdictions, supported by proprietary compliance and data technology platforms (gVue, MaxComply, IQ-EQ Cosmos, GAIA).

Product overview

IQ-EQ is a global, top-tier investor services group offering a comprehensive suite of fund services, corporate administration, and compliance solutions. The company operates a platform-plus-proprietary-technology model, with core offerings including fund administration, AML/KYC services (via MaxComply™), and compliance technology (via gVue). Following the acquisition of Zenith Global, the portfolio now includes the GAIA securitisation platform. Services span asset classes including hedge funds, private equity, real assets, and digital assets, with regulatory capabilities across multiple jurisdictions including AIFM, depositary, and appointed representative services.

Differentiator

Problem solved

Functional benefit

Brands

• gVue: Comprehensive technology solution for managing and monitoring business compliance activities including employee personal securities trading, political contributions, outside business activities, gifts and entertainment, and certifications
• MaxComply
• Zenith Global GAIA
• IQ-EQ Cosmos

Products and services

• gVue Comprehensive compliance technology platform for managing and monitoring business compliance activities, including employees' personal securities trading (linked to 4,000+ brokerages for real-time downloads), political contributions, outside business activities, gifts and entertainment reporting, and certifications/attestations. Sold to investment managers.
• MaxComply Proprietary AML/KYC digitalisation platform that automates investor onboarding processes with scalable compliance procedures for fund managers.
• IQ-EQ Cosmos Snowflake-based data platform supporting private debt administration with aggregation of company-specific KPIs and financial data from multiple sources.
• GAIA Proprietary technology platform built by Zenith Global to support the securitisation and master servicing market; now leveraged across IQ-EQ's structured finance and securitisation offering.
• IQ-EQ Switch Fund services offering for switching between fund structures or management arrangements.
• Fund Administration Services Full-service fund administration for alternative investment vehicles (hedge funds, private equity, venture capital, real assets, private debt, hybrid/evergreen funds) including NAV calculation, complex waterfall modeling, portfolio monitoring, and reporting.
• Regulatory Compliance Services Regulatory hosting (appointed representative arrangements), third-party AIFM services under AIFMD, FCA compliance consulting, and MiFID services, including ongoing regulatory reporting, risk management oversight, and governance support.
• Depositary Services Depositary services primarily in Luxembourg, covering AIFMD depositary obligations for alternative investment fund managers.
• Corporate and Entity Administration Corporate administration, trust and foundation administration, SPV management, and global entity management for corporate structures, serving asset owners including family offices, foundations, and pension funds.
• AIFM Services Alternative Investment Fund Manager (AIFM) services delivered through four regulated AIFM platforms in Europe, enabling U.S. and non-EU managers to access European capital via the AIFMD framework.
• Securitisation and Structured Finance Services Securitisation and structured finance services including SPV and corporate servicing, portfolio servicing (master, primary, special, back-up servicer, calculation agent), regulatory services, structuring, and real estate securitisation, expanded via the Zenith Global acquisition.
• SPV Management Services Special Purpose Vehicle (SPV) management services for securitisation and structured finance transactions.

Quantifiable outcome

• Supports 370+ evergreen, open-ended and semi-open fund structures globally with 120+ dedicated specialists.
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability2 records

Feature4 records

Partnerships

Twelve partnerships are on record, tiered core, minor and moderate.

• Zenith GlobalcoreOEM/ Whitelabel/ Licensing Partner · 27 May 2026IQ-EQ completed acquisition of Zenith Global, a specialist provider of securitisation and structured finance solutions in Italy. Zenith operates from Milan and Rome with 200+ employees, offering SPV and corporate servicing, portfolio servicing (master, primary, and special servicer), regulatory services, structuring, and real estate securitisation. Zenith also brings the proprietary GAIA technology platform. Zenith CEO Umberto Rasori joins IQ-EQ EMEA senior leadership as Managing Director for Italy. Full rebrand to IQ-EQ expected by end of 2026.
• Eden Reforestation ProjectsminorOthersIQ-EQ has partnered with Eden Reforestation Projects and committed to donate funds on an annual basis to plant trees. Eden Reforestation Projects works alongside local communities to produce, plant, and protect trees, thereby creating jobs to support communities in restoring their environment and economy long-term. This partnership supports IQ-EQ's environmental sustainability and ESG commitments.
• United Nations-Supported Principles for Responsible Investment (UNPRI)coreStrategic or Co-development PartnerIQ-EQ is a signatory of the United Nations-supported Principles for Responsible Investment. Membership ensures IQ-EQ continues to develop on its ESG and sustainability journey and demonstrates commitment to the highest standards of sustainable development.
• United Nations Global Compact (UNGC)coreStrategic or Co-development PartnerIQ-EQ is a participant of the United Nations Global Compact (UNGC). Participation ensures continued development on ESG and sustainability journey and demonstrates commitment to the highest standards of sustainable development.
• Asian Association for Investors in Non-Listed Real Estate Vehicles (ANREV)moderateStrategic or Co-development PartnerNeil Synnott serves as a voting member of ANREV, the Asian Association for Investors in Non-Listed Real Estate Vehicles. This membership provides IQ-EQ with insight into Asian non-listed real estate investment trends and market intelligence.
• Association of the Luxembourg Fund Industry (ALFI)moderateStrategic or Co-development PartnerNeil Synnott contributes to various committees of ALFI. Tamas Mark co-chairs ALFI's Real Estate Fund Operations working group. Membership and committee participation enable IQ-EQ to influence and stay current with Luxembourg fund industry standards and regulatory developments.
• Luxembourg Private Equity Association (LPEA)moderateStrategic or Co-development PartnerNeil Synnott contributes to various committees of the LPEA, providing IQ-EQ with insight into Luxembourg private equity market developments and regulatory priorities.
• Singapore Fund Administration AssociationmoderateStrategic or Co-development PartnerNeil Synnott serves on the executive committee of the Singapore Fund Administration Association, providing IQ-EQ with strategic insight into Singapore's fund administration sector and regional market developments.
• RICS (Royal Institution of Chartered Surveyors)moderateStrategic or Co-development PartnerTamas Mark is a Member of RICS, the Royal Institution of Chartered Surveyors. Membership supports IQ-EQ's real estate and infrastructure service capabilities and professional standards.
• LuxReal (Luxembourg Real Estate Professionals Association)moderateStrategic or Co-development PartnerTamas Mark is an Executive Board Member of LuxReal, supporting IQ-EQ's real estate fund operations and market positioning in Luxembourg.
• Institut Luxembourgeois des Administrateurs (ILA)minorStrategic or Co-development PartnerTamas Mark co-chairs ILA's Financial Companies working group, contributing to governance standards for financial institutions in Luxembourg.
• The DrawdownminorStrategic or Co-development PartnerIQ-EQ partnered with The Drawdown to co-produce a whitepaper on the state of digital adoption in private equity, with insights gathered from over 30 C-suite professionals representing firms managing more than $1 billion in AUM.

Scale indicators6 records

Recent moves7 records

Expansion highlights7 records

Direct peers

• Apex Group: Apex Group is the largest privately-held fund administrator globally, providing fund administration, depositary, custody, and corporate services across alternative asset classes. It is the most direct head-to-head competitor to IQ-EQ and has grown aggressively via acquisition (including Sanne Group).
• Citco Group of Companies: Citco is one of the world's largest independent alternative asset fund administrators, with deep coverage in hedge funds and private equity NAV and administration services. It is a direct competitor to IQ-EQ's core fund administration offering, particularly for large institutional alternative managers.
• Ocorian: Ocorian is a global fund administration, corporate services and capital markets services provider with comparable service offerings in fund admin, depositary, SPV management and trust services. Competes directly with IQ-EQ across multiple jurisdictions, particularly in Luxembourg, Cayman and Jersey.
• Maples Group: Maples Group provides fund services, regulatory and compliance, and corporate services from leading offshore jurisdictions including Cayman, BVI, Jersey and Luxembourg. It is a direct competitor to IQ-EQ's fund administration and corporate services business.
• Alter Domus: Alter Domus is a Luxembourg-headquartered fund administrator focused on alternative investment funds, private debt and real estate, with strong European depositary capabilities. It is a direct competitor in IQ-EQ's home market of Luxembourg and across European AIFMD servicing.
• TMF Group: TMF Group is a global provider of corporate secretarial, accounting, tax, payroll and fund administration services across 80+ jurisdictions. It is a direct peer for IQ-EQ's corporate administration, SPV management and fund services offerings.
• Waystone: Waystone is a specialist provider of governance, risk and compliance services to the asset management industry, including regulatory hosting, fund governance and AIFM services. It is a direct competitor to IQ-EQ's regulatory hosting platform (via G10 Capital and Sapia Partners) and AIFM business.
• CSC (Corporation Service Company): CSC provides fund administration, corporate services, capital markets and digital brand services globally. It is a direct peer for IQ-EQ's corporate administration, SPV management and capital markets services offerings.

Broad incumbents

• SS&C Technologies (GlobeOp): SS&C GlobeOp is one of the largest fund administration platforms globally, serving hedge funds and private capital funds with NAV, accounting and reporting technology. It is a broad incumbent peer serving overlapping institutional clients with comparable NAV and fund administration products.

Emerging players

• Langham Hall: Langham Hall is a mid-sized fund administrator focused on private equity, real estate and infrastructure funds with offices in key alternative fund jurisdictions. It is an emerging competitor to IQ-EQ in the mid-market private capital fund administration segment.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

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• Instagraminstagram.com/insideiqeq
• TikToktiktok.com/@insideiqeq
• Xx.com/firstnamesgroup

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries31 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 First Names Group