As I pass 18 months leading the US business at Langham Hall, I’ve had time to reflect on how the market is shifting and how those shifts show up in the day-to-day work of servicing funds.

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I’ve spent most of my career working in fund administration, so I didn’t expect any real surprises. But stepping into this firm has challenged some long-held assumptions, especially around what clients really value.

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Here’s what has stood out:

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Culture matters: GPs want real partnership, not just process

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The first thing that stood out was the culture. Langham Hall is a partner-led professional services firm in the true sense: senior people stay close to delivery. Not for optics, but because it drives faster decisions and fewer surprises. That attention to detail runs deep – from the way problems are approached to how client service standards are maintained across teams.

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There’s a forensic focus on data. A real effort to get under the hood, find the root cause and implement lasting fixes. It reminded me of something I hadn’t seen in years: a team rebuilding an engine from scratch to make it run better, not just replacing a part. That kind of rigour is rare and increasingly valuable. The traditional administrator model, built for scale, not nuance, often fails to serve today’s GPs, especially first-time funds, spinouts or managers navigating cross-border complexity.

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In previous roles, I saw how culture can erode as businesses scale through M&A. Leadership stretches thin. Teams become siloed. Internal mandates start to outrank client outcomes.

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Langham Hall has scaled differently – deliberately and organically. The result is that a culture rooted in doing things properly, with relentless efficiency, has held. In a market where clients are asking for more clarity, consistency and judgement, that matters.

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The service model has to stretch further

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Clients aren’t just outsourcing tasks. They’re leaning on us to help interpret regulation, adapt reporting for investors and build operating platforms that grow with them.

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The shift is subtle, but important: we’re no longer just helping clients do things; we’re helping them think through what to do next.

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Training matters and not enough firms invest in it

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Another notable aspect is the strong focus on professional growth and development at every level.

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I genuinely felt like I was back in school during my first year with the amount of leadership and technical training. It was refreshing to see and yet uncommon in our market.

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In a lot of places, especially in senior roles, you’re left on an island. You’re expected to enact change and to already have all the answers. That’s not the case here.

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The firm actively invests in its people at all levels, through continuous learning opportunities, mentorship programs and transparent feedback loops. This creates an environment where employees are motivated not just by financial incentives but by a clear path for personal and professional advancement.

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It’s about good judgement, leadership and trust. Judgement and leadership take time to develop and result in trust. They are earned, not assumed.

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A data platform is only as useful as the people running it

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Data capabilities are evolving fast. Fund reporting is more complex, and LPs are demanding greater transparency. Technology and automation are essential, but on their own they’re not enough. It takes context, interpretation and judgement to unlock real value.

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Our Wolfram Computable data strategy is built on a deep data lake of financial and non-financial data. That data is interrogated by code to produce tailored financial outputs and enable highly customisable reporting. But it’s the blend of financial training, market insight and technical skill that makes the difference.

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Whether it’s tracking market trends or navigating the intricacies of investment strategies, our commitment to learning underpins how we support private funds and deliver reporting that actually works for clients.

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A final thought

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These reflections come at a time of real change in the private funds market. Fundraising is tougher. LP expectations are higher. Regulatory demands are growing. It all adds up to more pressure on managers and more demand for service partners who can think, adapt and genuinely collaborate.

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That’s the model we’re building on.

Langham Hall, is pleased to announce it has supported Northcote Equity in the successful first and final close of its debut fund, Northcote Fund I, at its hard cap of £160 million. The fundraise was completed in just 16 weeks, reflecting strong investor demand and confidence in the Northcote team.

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Northcote Fund I will make investments in founder-owned businesses in the lower mid-market across the UK and Ireland, with a focus on the technology and services sectors. The fund targets both majority and minority positions, with the ability to invest up to £30 million of equity per transaction.

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Founded in 2025 by Matthew Charman, Scott Fairlie and Charles Dale, Northcote Equity brings together a team with a decade of shared experience at one of Europe’s top-performing private equity firms. The fund has attracted capital from leading institutional investors, including university endowments and family offices across the US and Europe.

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Langham Hall has provided fund administration and accounting services from its Guernsey office, as well as appointed representative services from its London office, supporting Northcote through its launch and successful close.

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Bronwyn Alexander, Client Director said: “Northcote is an exciting addition to Langham Hall’s growing portfolio of spin-out and startup managers. We are delighted to be on this journey with the team and look forward to what will come following a very successful first and final close.”

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Matthew Charman, Co-Founder at Northcote Equity said: “Langham Hall has been a trusted partner throughout our fund launch. Their responsiveness, knowledge and clarity made a real difference, allowing us to stay focused on what matters: raising the fund and getting ready to deploy capital.”

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Northcote was also advised by Acanthus Capital, Ashurst and Carey Olsen.

Langham Hall is pleased to announce an important milestone for its Guernsey office: a move to a new, larger state-of-the-art premises in Admiral Park. The move reflects the firm’s continued growth and belief in Guernsey as a key jurisdiction for private equity, venture capital and real asset funds.

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The new office spans 10,000 square feet and supports Langham Hall’s ever-growing team of 70 staff, who provide fund administration services to leading fund managers. The move enhances the firm’s ability to deliver best-in-class investor reporting, accounting and regulatory compliance support to an expanding global client base.

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Jon Young, Partner and Head of Guernsey said: “This is an incredible milestone for the Guernsey business, which has grown from one to 70 staff over the past nine years. This move emphasises our long-term commitment to our team, our clients and Guernsey as a key jurisdiction for funds. The new office provides our team with a fantastic working environment and further space for growth whilst ensuring our clients continue to receive market-leading service. We continue to invest in our team, technology and infrastructure to support our clients’ needs.

Spinouts and emerging managers have been key drivers of our growth in Guernsey and we have seen significant momentum in this area in Q1 alone, supporting some fantastic first-time fund launches. We expect to see this trend accelerate through 2025.”

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Langham Hall’s continued investment in Guernsey and other key global financial centres reinforces its position as a trusted fund administration partner to over 150 fund managers globally, overseeing $180 billion in assets under administration.

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Langham Hall is pleased to announce it has supported bd-capital in the successful final closing of its second fund, bd-capital Fund 2 (“Fund 2”). Despite a challenging fundraising environment, Fund 2 closed at €430 million – more than 20% over its target of €350 million – after less than twelve months in the market.

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This raise brings bd-capital’s assets under management to over €800 million. The strong demand for Fund 2 reflects the confidence investors have in bd-capital’s operator-led, multi-sector investment strategy, which continues to grow its appeal to mid-market businesses across Europe.

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The Fund secured commitments from a diverse base of institutional investors, including insurance companies, pension funds, sovereign wealth funds and family offices. It attracted capital from across Europe, the Middle East and North America, with a significant proportion coming from the US, demonstrating bd-capital’s growing international reach and reputation.

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As bd-capital continues to execute its pan-European, multi-sector, operator-led strategy, Langham Hall has provided fund administration services, ensuring seamless structuring and operational support throughout the fundraising process.

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Jon Young, Partner and Head of Guernsey said: “It has been a pleasure to work with bd-capital on this milestone fundraise. It’s an incredible achievement to exceed their fundraising target in difficult fundraising conditions but their unique approach and dedication to their cultural values resonates well with everyone they partner with. It’s been an honour for the team at Langham Hall to have been involved with Andy, Richard, Alice and the entire bd-capital team since their launch in 2020.”

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Andy Dawson, Managing Partner at bd-capital said: “Fund 2’s successful final close reflects not only the strength of our investment strategy but also the strength of the partners who have helped us achieve it. Langham Hall has been a fantastic partner to us, delivering incredibly high-quality support with precision and efficiency. By being brilliant at fund administration, they have allowed us to focus on the job of investing and creating value.”

bd-capital was advised by Houlihan Lokey (global placement agent), Weil, Gotshal & Manges (legal counsel) and Carey Olsen (legal counsel).

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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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