STP Investment Services, a global, end-to-end investment operations service provider, has acquired Tower Fund Services, a third party fund administrator.

Tower provides outsourced services for alternative investment managers and family offices. The firm offers fund administration to private equity funds, crypto funds, hedge funds, venture capital, real estate and direct lending funds.

The purchase strengthens STP’s position in the alternative investing sector and allows the firm to expand the reach of its services and technology. Going forward, STP will continue to invest in technology services for fund managers.

“This acquisition will bring additional clients and funds to STP, allowing us to be more intentional about growing our fund administration business across all asset classes and funds,” said STP CEO Patrick Murray. “By combining Tower’s services along with our innovative technology and high-touch approach, we will deepen our existing capabilities.”