We are pleased to announce that we have expanded our global partnership with the promotion of four senior professionals. These appointments strengthen leadership across key financial hubs and reflect the firm’s continued investment in expertise, long-term client relationships and scalable growth.

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Alongside these three partnership promotions, Langham Hall has recognised talent across the business, with a further 17 being awarded long term incentives and a total of 144 employees promoted worldwide, reinforcing the firm’s commitment to internal progression and long-term value creation.

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Langham Hall now has 14 partners globally, each directly leading expert teams and ensuring senior-led client service, technical precision and deep market insight across private equity, real estate, infrastructure and debt.

Newly appointed partners

• Richard James (UK) – As Head of UK, Richard oversees the firm’s UK fund administration business. He joined the business in 2024 and was previously Global CFO of Savills Investment Management, bringing deep expertise in financial strategy, governance and operations.
• Joseph Hindi (USA) – Appointed in 2023 to lead Langham Hall’s US expansion, Joseph has been instrumental in scaling fund administration and accounting services.
• Christian Mohr (Luxembourg) – A core architect of Langham Hall’s AIFM Luxembourg business, Christian has deep private equity and real asset expertise. With a background in audit and over 15 years of experience, he enhances the firm’s regulatory and governance capabilities across Europe. He joined the business in 2018.

A selective, structured path to partnership

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Becoming a partner at Langham Hall involves a process which is highly selective and merit-based – reserved for the most talented professionals in the field. Unlike corporate structures where promotions can be tenure-based, Langham Hall ensures that each partner is a practitioner and leader, directly overseeing a team of experts and maintaining high-touch client relationships.

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This latest round of promotions reflects Langham Hall’s commitment to quality, long-term partnerships, and independent growth. As a partnership-led firm, Langham Hall prioritises senior access, technical depth and fast decision-making – ensuring clients benefit from the best expertise in the industry.

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Investing in people, expertise and technology

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Langham Hall’s success is built on deep industry expertise, a relationship-driven approach and seamless technology integration. The firm combines expert leadership with innovative fund services, ensuring that clients receive precision, transparency and scalable solutions.

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Rob Short, Managing Partner said: “At Langham Hall, we don’t just grow in size; we grow in strength. Each of our new partners has demonstrated exceptional leadership, technical expertise and a commitment to long-term client success. Their promotions reinforce our ability to deliver high-touch service across global financial centres while remaining independent, client-focused and technology-driven.”

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As we celebrate International Women’s Day, we spoke to Rachael Lyon, Head of Fund Administration - UK who shared her experience of establishing her career in a male dominated environment and her recommendations on how to break the bias for young women entering the workforce.

About 15 years ago, I was in a meeting with my boss and about 10 others. At the start of the meeting, we were all giving our business cards and people started to arrange them so they knew the names of everyone at the table. However, by about 6 business cards in, we were all getting very confused and had no idea which person had given which card.

My boss jokingly said “well, at least we all know which one Rachael is”. I froze as I had no idea why he had said it. I suddenly felt very self-conscious and awkward. But as I looked around, I realised what he meant. I was the only woman in the room.

I am sure this is something that many women in the Real Estate world have encountered. This was 15 years ago, and things haven’t really changed much. Most of my meetings are still very male dominated.

Like many women, I have felt that I wasn’t good enough and had to work harder to be listened to and taken seriously. We put ourselves down and don’t put ourselves forward for promotions, new job opportunities and pay rises as much as our male counterparts and as a result our careers suffer, and we earn less.

Gender equality in the workplace is not only about getting more women in a male dominated industry, but also about breaking down gender stereotypes for both men and women to put people on an equal footing. Having equal opportunities and access to tools and experiences to build confidence in the workplace.

During my career, I have been incredibly lucky with some of the other women I have worked with and have forged some very strong relationships. This has enabled us to build each others’ confidence and use our often-differing strengths together to have a great deal of influence in the organisations I have worked in.

As a senior woman at Langham Hall, I help mentor junior women to build this confidence and to break down some of the limiting beliefs that prevent us from showing what we can really do!

Whether deliberate or unconscious, bias makes it difficult for women to move ahead. Being aware of them is not enough, we need to act. At Langham Hall, we are working to get more women to join the industry, supporting our female staff to build networks and connect with other senior women to continue building their confidence, holding women only activities as well as ensuring our events are gender balanced.

If you are interested in a career at Langham Hall, reach out to our HR team or check the latest vacancies here.

Head of Langham Hall Japan, Shinobu Miyata was interviewed by Miho Yoshioka of The Bridge Station Times in Japan.

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This article is a translation from the original interview in Japanese. View the original article here

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Fund management to boost the Japanese economy

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Tell me about Langham Hall and your role in the business?

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Our company was established in London in 2006, and has bases in Europe, New York, Hong Kong, Singapore, and Shenzhen, and has earned trust in Asia and provided services to investors. Now, I have been appointed as the person in charge to expand the Japan office.

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You mainly handle accounting and management of funds, but what exactly does that involve?

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We are responsible for the administrative work of funds, and accountants are a similar occupation. A fund is something that accepts funds and acts as an agent for investment,　which is accompanied by various accounting tasks. With our knowledge of accounting and bookkeeping, we not only record and prepare financial statements, but also manage the fund in general.

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What is your background, Mr. Miyata?

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Years ago, I started a company that handled the same kind of work, which was rare even in Japan at the time, and ran it for seven years. Although Langham Hall did not have a base in Japan, its name was gradually becoming known, as it was attracting large Japanese investors, which is what I wanted to do. When I looked into it, I found that it also had many transactions with well-known asset management companies both in Japan and overseas and provided good services. For the past seven years, I have been working on the fund management side, and when I was introduced to Langham Hall as an administrative agent, I decided to change jobs as if it was love at first sight.

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How has the response been?

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Since launching, we have had clients immediately, and we have been off to a good start. Until now, Japan’s unlisted stock market has only dealt with domestic investors, but recently there have been more challenges to bring in overseas investors, and I feel that it is rewarding.

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The time has come for small companies to deal with overseas investors.

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Yes. For example, my wife’s parents run a souvenir shop, but when it is a family-run business, there are still some roughness in the accounting books. However, the fund sorts that out. If the accounting books and business model are good, we can consider buyers from overseas, and by extension, we can help with business succession.

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It will be a catalyst for Japan’s sluggish economy. Where do you see yourself going from here?

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There are few people in the same industry in Japan, so there is a business opportunity for us. First, we will focus on recruiting young people who are interested in this kind of administrative work and organise a team of professionals. Our next goal is, of course, to bring an overseas-style investment market to Japan. By bringing capital into Japanese companies, we hope to help them unlock various growth opportunities.

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Deciding the next steps to take after school can be a daunting decision, do you continue onto sixth form, go to college, or consider an apprenticeship? Apprenticeships are an excellent option for young people who are wishing to start a career and apply their studies to a work environment.

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As we celebrate National Apprenticeship Week 2025, we spoke to Harry Otley Groom who began his career at Langham Hall as a Financial Systems Apprentice. Harry discussed life after completing his apprenticeship in 2022 and how his role has evolved since then.

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What apprenticeship did you undertake at Langham Hall and how long did it take to complete?

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Whilst at Langham Hall I completed my AAT level three, which is a diploma in accounting. The course took 18 months to complete and included six exams alongside weekly coursework. Once completed I qualified for an AAT bookkeeping membership.

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Why did you choose to complete an apprenticeship over the traditional university route?

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Throughout my academic career, I noticed that I took more of an interest in the workplace and learning on the job, rather than independent studies. I was keen to get stuck in as soon as possible, through gaining practical work experience whilst I was learning. Which is why I thought the structured learning program alongside working in the industry would suit me perfectly.

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What did you like about your time at Langham Hall as an apprentice?

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I liked the combined learning and working blend at Langham Hall. There was a clear plan which detailed when I was learning, and when I was working on tasks and projects. The exposure I received working across multiple teams really helped me when I was working towards my exams. I gained an understanding into not only what I was working on but also the wider Langham Hall team and the finance world around me. This not only included what I was undertaking in the Systems team, but also the time I spent working in the clients team, payments team and technical team. The rotations across various teams broadened my wider knowledge of the business, giving me exposure into multiple service lines and showing me the different paths I could follow in my career.

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The Langham Hall Apprenticeship model allowed me to work closely with my experienced line manager on a day-to-day basis, whether that involved picking up tasks myself, or shadowing on some of the more complex work that he was doing. The support stood me in great stead, allowing me to develop to the position I am in today. The hands-on experience that I received enabled me to learn and apply my skills to a real-life work environment.

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How has your role evolved since completing your apprenticeship?

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Although I completed my apprenticeship a couple of years ago, I have been able to continually grow in my role. When I first started working in the Systems team I was shadowing, learning from people and picking up things where I could help out. Now I am independently managing projects across multiple jurisdictions. I have developed my skills and have a strong technical understanding, which I am able to teach to the wider team around me. My confidence has grown in managing my own workload. We have recently hired a Systems and Data Apprentice and I am looking forward to helping him develop in his role, he will be assisting with the day-to-day running of the systems, administration and in the future working on his own projects.

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I am now working towards becoming ACCA qualified and have completed the first foundation level. I look forward to continuing to apply my new skills and further my career.

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Harry’s top three recommendations for those who are following the apprenticeship route:

1. Plan your time in advance: Whilst completing an apprenticeship you will have to juggle day-to-day work and coursework, which is why it is important to allocate your time effectively. I planned my diary and clearly structured my weeks, so I wasn’t faced with capacity related issues.
2. Check-in discussions with your line manager: Regularly meet with your line manager and ensure you utilise their experience and knowledge within the industry.
3. Ask lots of questions: Following on from the above point, make sure to ask lots of questions, the more you ask the more you learn. After all there is no such thing as a stupid question.

Langham Hall offers a diverse range of apprenticeships spanning from our operations, HR and compliance team to internal accounts and Technical/Systems. We are keen to widen the range of departments that support apprenticeships as the development of young talent ensures we are training staff from the bottom up. Team growth and succession planning are key to our talent strategy and apprentices are become increasingly important in supporting this aspect of our growth plans.

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At Langham Hall apprentice’s sign-up to an 18 month or 3-year apprenticeship depending on the level of qualification they are completing. They are assigned to a specific department or business area where their job role directly relates to their qualification. Each apprentice has a mentor to support them through their qualification and study leave to allow time to complete their training programme.

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If you are interested in our apprenticeship opportunities, reach out to our HR team or view our latest vacancies here.

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Langham Hall is delighted to be supporting the launch of Ama Capital, a new London based investment firm that has been approved by the Financial Conduct Authority (“FCA”) to act as an Appointed Representative of Langham Hall Fund Management LLP.

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As a UK lower mid-market investment firm, Ama Capital has a deal-by-deal strategy, investing up to £20m of capital to support UK SMEs in Financial & Professional Services, Niche Engineering & Industrials and Business Services. Ama Capital will take both majority and minority positions, backing buyouts, retirement sales and carve outs.

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Miles Otway, Co-Founder of Ama Capital said: “Langham Hall have been a fantastic partner to us as we launch this new business, and their handholding throughout our regulatory approval process has been invaluable.”

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About Ama Capital

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Miles Otway and Ed Ransome founded Ama Capital in 2024. They bring over 30 years of experience in the SME investment market, having previously worked at Connection Capital and Chiltern Capital respectively.

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Ama Capital is an operator-led, independent investment firm which utilises the real-world experience and understanding of proven, in-house industry leaders and functional specialists who provide valuable, aligned and practical support to help its investees in bringing their visions to the surface.

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About Langham Hall

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Langham Hall has worked with a number of notable spinout and startup platforms in recent years. We often help these new managers with issues such as waterfall modelling, regulatory and marketing considerations, as well as the set up of their operating models. Langham Hall employs 800 professionals globally and remains one of the only independent, partner-led fund administration businesses dedicated to illiquid investments.

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Langham Hall is committed to giving back to the communities in which it operates. Throughout 2024 our staff have undertaken a wide range of charity and fundraising activities from competing in Dragon Boat racing in aid of Jersey Hospice Care to taking part in the “Pink October” initiative in support of the Cancer Luxembourg Foundation.

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Read more on what our teams have been up to:

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London

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During November, the London office hosted their annual Movember fundraising event. The yearly initiative supports The Movember Foundation who champion men’s mental health and work to transform the way health services support men. The team came together to participate in the initiative either by growing a moustache or recording movement of 60kms throughout the month of November. The 60kms represents the 60 men we lose to suicide each hour worldwide. The London office raised a total of £220 in aid of the Movember Foundation.

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The London office also hosted their annual Christmas Jumper Day. The employee with the best jumper won an additional £100 to go to the charity of their choice. The winner was Allan Jensen who chose to donate his winnings to Cancer Relief Gibraltar, a charity which provides support to people living with cancer in the community.

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A team of volunteers closed the year by collecting food donations to be delivered to the local food bank in Euston, London. A total of 6 kilos of food was donated to support the organisation over the Christmas period.

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Jersey

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On the 5th October, five colleagues ran the Standard Chartered Jersey Marathon in support of ‘Futuremakers’, an initiative which tackles equality and promotes greater economic inclusion for young people in the local communities.

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The Jersey team participated in Dragon Boat racing in aid of Jersey Hospice Care. The event brought together corporate and community teams for a day of exciting races. Out of 42 teams the Jersey office came 22nd! Even those who didn’t participate came along to show their support, it was a great opportunity for staff to come together and raise money for an important cause.

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Similarly to the London office, the Jersey team took part in Movember, with the aim of raising money for Mind Jersey, a charity which is dedicated to supporting mental health. The participants put in a fantastic effort and raised £70.

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Asia

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Volunteers from the Asia office collaborated with kids in a cookie making workshop at The Hub Hong Kong Children Care Centre. Volunteers assisted in baking and packaging souvenirs with kids for preparation of their Open Day. The Hub provides educational, developmental, health and well-being services to disadvantaged children.

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US

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During December the US team visited ABC Cassidy’s Place for their 2nd annual book drive. Established in 1986, ABC has served children struggling with issues of poverty, hunger, emotional and physical abuse, lack of educational support, homelessness, disabilities and developmental delays. The team donated over 450 books that the children were able to choose from and take home.

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Luxembourg

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The Luxembourg office encouraged blood and plasma donations to the Red Cross, allowing employees to contribute during working hours. This initiative provided an opportunity for our team to give back to the community. Manuj Monga received a medal from the Duchess of Luxembourg because of his donations as a contribution to the society.

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During Breast Cancer Awareness month, the team took part in the “Pink October” initiative. For each photo submitted by employees demonstrating their involvement, the company contributed €10 to the Cancer Luxembourg Foundation. This initiative will play a vital role in funding essential research and support services for those impacted by breast cancer. By the end of the campaign, the team successfully raised a total of €690.

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Volunteers also participated in the Social Goal initiative, which organises amateur corporate sports leagues across Europe and Asia with the aim to give back to local non-profit organisations. Social Goal supports children in need by providing structured, life-changing sports programs led by passionate volunteers. The initiative focuses on teaching values, building communities and simply letting kids be kids.

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To celebrate Mental Health awareness day Edita Bujauskaite from Langham Hall Luxembourg led a global webinar which highlighted the importance of addressing mental health issues within the workplace. The topics discussed included:

• Strategies for managing stress
• Ways to prevent burnout
• The significance of quality rest for overall wellbeing

Edita’s session offered insight into what we can do to create a healthier and more supportive work environment.

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Guernsey

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In the second quarter of the year, the Guernsey office selected their ‘charity of the year’, which was The Sunflower Project, a support service for children and young people when they are experiencing a bereavement. The People Committee kicked off fundraising efforts with a bake sale where they raised £133.

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World Food Day was on 16th October and to celebrate different cultures and cuisines around the world, the team hosted their own event where people cooked or brought food from their home or favourite country. The food was available for a small donation and £177.00 was raised.

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At Christmas the team received a list of items to buy in support of children who have lost a loved one and donations of these items were generously purchased by our amazing colleagues. This brought a little joy over what can be a difficult time for many.

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In September, October and December the team had the opportunity to undertake volunteering activities for the Russels Day Centre through the Guernsey Voluntary Service. The Russels Day Centre caters for around 25 elderly people per day and hosts a range of activities from bingo, to exercise classes.

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We also encourage our staff across all jurisdictions to take on their own challenges and initiatives.

• Paul Tsang from London completed the Tower Run 2024 by running up 58 floors in the 22 Bishopsgate building and raising money for the RNLI.

We look forward to all the different initiatives the teams have planned for 2025.

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We are proud to stand together and extend a helping hand to those in need.

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As we begin 2025, I would like to extend my best wishes for a happy and prosperous year ahead. I also want to provide you with an update on Langham Hall and share our expectations for the upcoming year, which we hope will bring a more optimistic outlook.

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The fundraising environment remained challenging across all asset classes in 2024. However, as interest rates began to decline, we saw a rebound in M&A and secondary market activity, marking the start of the slow process of repatriating capital to investors. While we anticipate the first half of this year will remain challenging, we are beginning to see some funds successfully raising capital, and momentum is building, with new high quality fund management businesses entering the market. The extended recovery period has had a negative impact on mid-market asset managers in all asset classes, as higher-than-expected interest rates – alongside declining returns due to difficulties in exiting assets – has led to a struggle for some to raise further capital.

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Against this backdrop, the growing sense that inflation may persist in the medium term has led to an interest in high-quality, income-generating real assets. On the private equity side, businesses that started during the pandemic, particularly in areas such as technology and healthcare, are now emerging as attractive targets for lower mid-market managers spinning out from the old mid-market platforms. While investors remain committed to the major, multi-disciplined managers, there is also significant interest in supporting smaller managers, especially to avoid missing out on the latest market trends. This is especially evident in the US, but also in the UK, where the greatest percentage of Europe’s tech start-ups are based in order to access capital. US general partners (GPs) are responding to this by increasing their presence in London to compete in Europe for the best deals for their US funds. This augments their fundraising efforts in the EU as they continue the diversification of their LP bases through pre-marketing under AIFMD.

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A key initiative at Langham Hall continues to be our Wolfram computable data strategy. All our jurisdictions are now focusing on transitioning remaining clients to this platform, and the feedback has been overwhelmingly positive. Comments such as, “Four years of dashboard presentations from the market and this was the best presentation and most tailored tool for what we need” reflect the success of this initiative. To recap, our strategy represents a significant leap ahead of traditional GL-based systems by enabling the interrogation of a flexible yet hierarchical data repository containing both financial and non-financial data. This enhances the speed and flexibility of all management and performance reporting and streamlines the handling of side letters and miscellaneous investor reporting, all within a single strategy.

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Despite the challenges, Langham Hall achieved double digit growth in the past year. We focused heavily on strengthening the foundations of our professional services. A significant amount of time was spent by our senior team ensuring alignment in our approach to client work and in accelerating the development of talent within our client teams. As an independent business, our clients and teams remain our top priorities.

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I would like to express my sincere gratitude to all our clients, colleagues and advisors for your continued loyalty and support.

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Best wishes,

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Rob Short
Managing Partner

Langham Hall is delighted to announce the appointment of two senior hires in Luxembourg. Ian Kent joins as Head of Fund Administration – Luxembourg and Brian Campion as Head of Commercial – Luxembourg. Both have extensive experience in alternative assets and will help us continue to deliver best-in-class service to top tier fund managers.

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Ian Kent | Head of Fund Administration – Luxembourg

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Ian has 20 years’ experience in the alternative investment sector in Luxembourg, both with investment managers and service providers. He has spent time at KPMG, Morgan Stanley and Abrdn, before working at a global bank where he serviced clients with complex cross-jurisdictional structures. Ian is a Fellow Chartered Accountant (“FCA”).

Ian leads our Luxembourg fund administration practice across all illiquid asset classes.

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Brian Campion | Head of Commercial – Luxembourg

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Brian started his career as an Auditor at EY Luxembourg, before working for an independent AIFM. He joins Langham Hall from another independent service provider, where he advised clients on Luxembourg operating models and regulatory frameworks. Brian is also the Co-Chair of the LPEA Promotion Sounding Board.

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Brian leads the Luxembourg commercial team, which is responsible for advising and working with clients during the setup and initial operation of funds in Luxembourg.

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Maria Thorsted - Head of Luxembourg said: “Both Ian and Brian bring a wealth of professional services experience to Langham Hall, which will help us continue to deliver best-in-class service to our clients”

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Tom Pinnell - Head of Commercial - Europe said: “Brian’s Big 4 background makes him a perfect fit for Langham Hall. He is able to really problem solve technical issues with clients at a deeper level than most and I look forward to working with him”.

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As we approach the end of the year, sharing some possibly topical experience of issues arising at the end of fund life.

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Fund Life Cycle Update

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In ideal circumstances, after the final distribution the partnership prepares a final balance sheet showing no assets or liabilities and applies for a winding up. Procedures in the Cayman Islands typically take a few weeks. The corporate GP is typically also wound up after the fund to preclude further liabilities.

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Recent Developments

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Funds may reach the end of their expected life before all of the portfolio investments have been divested. These may be in different stages of divestment, including listed securities post-IPO, either in a lock-up period or experiencing shallow market liquidity, performing portfolio companies with delayed exit negotiations, and written down/written off portfolio companies in insolvency or other legal proceedings. Other asset may be distributable cash is held in reserve against tax or warranty liabilities.

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Implications for the Fund

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Cayman limited partnerships remain extant and in good standing past the final term of the LPA, but the efficacy of LPA clauses becomes uncertain. It is well accepted that the distribution waterfall continues to operate as the only route for distributable cash to leave the partnership. It is less clear whether LPs are obliged to make further capital calls to fund fees and expenses. Management fees are a matter of negotiation and practically are likely payable out of arising distributable cash.

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Options for GPs

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GPs have considered a number of options including the following. Continuation funds are still rather rare considering the number of PE funds reaching end-of-life in the present market. They require a strong asset with long-term upside potential and preferably ‘evergreen’ cashflow prospects. Fundraising is presently challenging even for the best opportunities. Distributions in kind are more common than continuation funds. Listed assets are straightforward in principle but in practice there are complications. LPs have different needs; some would prefer to receive the securities rather than sell at fire-sale prices, while others just prefer to draw a line under the investment and insist that the GP dispose on their behalf. There are significant price fluctuations around the distribution date which may move a fund in or out of the carry. Also, LPs may end up booking the securities at a price much lower than the distribution valuation. Fund life extensions may be sought through the LPAC. A clear plan will certainly be needed explaining the route to disposition for each asset. Management fees are to be negotiated, but LPs recognize that GPs need to be resourced to work the asset, especially for funds where carry is unlikely.

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Dormant Final Years

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Sometimes the realistic business case is to just wait-and-see, especially in the case of liability reserves. Funds may ramp down costs by streamlining investor reporting to just capital accounts and audited financial statements during this period.

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Other Considerations

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Strategies for maximizing the fund IRR and fund multiple may have some conflict – the central issue is whether it makes sense to delay exists for the sake of seeking a better exit price. Different portfolio investments may have dramatically different prospects. Discussions with LP on the “old fund” may be getting in the way of marketing a new fund. The balance between driving further value versus drawing the line will differ as a result.

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There is only space in this newsletter to sketch an outline. Please do reach out if you would like to discuss further.

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