An investor group led by Starr Investment Holdings has provided $40 million to ACA Compliance Group. Based in New York City and the Washington, D.C. area, ACA is a provider of governance, risk and compliance advisory services and technology solutions.
WASHINGTON D.C., NEW YORK and NASHVILLE, Tenn. – ACA Compliance Group (ACA), a leading provider of governance, risk, and compliance (GRC) advisory services and technology solutions, today announced that it has secured $40 million in new funding from its existing investor group. The group, led by Starr Investment Holdings (“SIH”), acquired a controlling interest in ACA in 2018.
Founded in 2002, ACA is now the premier provider of regulatory compliance, performance, and cybersecurity consulting services and technology solutions to the world’s top-tier hedge fund, private equity and asset management firms. ACA’s 600 employees work with more than 3,300 clients to build compliance and risk programs, enhance existing operations and improve operational resilience across their organizations. This includes developing and enhancing compliance programs, verifying and certifying performance and assessing and improving cybersecurity programs.
In the first half of 2020, ACA focused on continuing to build its operational infrastructure, streamlining its offerings, and further strengthening its leadership team, including by hiring Shvetank Shah as CEO, Dave Metzger as CFO, and Carrie Yonenson as CHRO.
ACA continues to see strong adoption of its regulatory technology platform, which includes functionality for employee compliance monitoring, compliance program management, marketing reviews and trade surveillance.
“At ACA, we are committed to helping our clients protect their businesses, mitigate risks and build a strong culture of compliance,” said Mr. Shah. “This financing is a testament to the continued confidence our investors have in the future of ACA, and it highlights the resilience of our business, our team and our client relationships. We look forward to accelerating our investment in our people and technology to successfully position ACA and our clients as we all adjust to the new normal, which we expect will include an even greater focus on risk management.”
ACA’s best practices and market leading technology, such as holistic surveillance and operational resilience — including integrated business continuity planning, cybersecurity and third-party risk management — have proven critical as its clients manage through the COVID-19 pandemic and global business models become more distributed.
On behalf of the investor group, Jordan Lee, Managing Director at Starr Investment Holdings, said: “We are excited about what lies ahead for ACA as the firm continues to grow and address its clients’ mission critical governance, risk and compliance requirements. We believe the next evolution of GRC solutions will require a flexible approach that allows organizations to better understand and mitigate regulatory compliance related risks, and we are confident that ACA is ideally positioned to capitalize on this opportunity.”
About ACA Compliance Group
ACA Compliance Group is a leading provider of governance, risk, and compliance advisory services and technology solutions. We partner with our clients to help them mitigate the regulatory, operational, and reputational risks associated with their business functions. Our clients include leading investment advisers, private fund managers, commodity trading advisors, investment companies, broker-dealers, and domestic and international banks. ACA is based in New York City and the Washington, D.C. area, and has offices in London and other U.S. cities. For more information on our solutions please visit www.acacompliancegroup.com.
About Starr Investment Holdings, LLC
Starr Investment Holdings, LLC (“SIH”) is a multi-billion dollar New York and Nashville-based investment adviser that manages capital on behalf of the Starr Companies together with that of select institutions and family offices. SIH invests in privately-held technology-enabled services businesses with a particular focus on information and healthcare services. SIH partners with world-class management teams, supporting them with flexible long-term capital and strategic resources.
For more information, please visit www.starrholdings.com.