Granite Bridge Partners (Granite Bridge), a newly formed private equity investment firm focused on the lower middle market, has selected PEF Services for its fund administration.
Granite Bridge was formed by the former management team of the Direct Equity Division of Wafra Inc to effect the acquisition through a Secondary Transaction of a majority interest in Wafra Inc’s direct equity portfolio.
“PEF’s long-standing reputation for providing exceptional service to its clients, together with innovative technology solutions that will allow us to scale, were key drivers in our decision,” says Peter Petrillo, Managing Partner of Granite Bridge. “PEF Services will help us support the operational management of our new firm enabling us to focus on strategic, high-value initiatives like deal sourcing, fundraising, and portfolio management.”
PEF is nationally recognised as one of the top boutique fund administrators and back-office specialists for both General Partners and Limited Partners in the alternative asset space. PEF’s services include partnership accounting, financial reporting, capital call and distribution processing, investor capital account maintenance, audit and tax return support and coordinated fulfilment of all investor deliverables.
“We are very excited to welcome Granite Bridge to our family of clients,” says Hank Boggio, Chief Revenue Officer of PEF. “We look forward to supporting Granite Bridge’s endeavours to focus on strategic initiatives that drive growth to achieve greater efficiencies.”
