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Parthenon Capital Partners completes acquisition of Millennium Trust Company

Parthenon Capital Partners has completed its previously announced acquisition of Millennium Trust Company, a provider of technology-enabled asset custody solutions for institutions, advisors, and individuals.

Headquartered in Oak Brook, IL, Millennium Trust was established in 2000 to meet the market’s growing need for a more flexible provider of administrative and custodial services for both retirement and taxable investment accounts. Servicing the needs of individuals, institutions and advisors, the Company has continued to experience significant growth over the past few years across its three product areas: Rollover Solutions, Alternative Asset Custody Solutions, and Private Fund Custody.
The targets nascent sectors of alternative finance such as marketplace lending and equity crowdfunding platforms which require custody services to facilitate investment operations, address regulatory issues, and answer investor concerns about the custody of assets. Additionally, Millennium Trust continues to lead the automatic rollover IRA space by providing technology-based solutions that help many of the nation's largest retirement plan sponsors to lower plan costs, reduce liabilities, and focus on current participants.
Parthenon has a long-standing history of partnering with leading technology-enabled financial services companies. Under Parthenon’s ownership, Millennium Trust will continue to provide world-class service to its clients while working to expand upon the Company’s competitive advantages by introducing new products and services to the marketplace.

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