Charlesbank Capital Partners, a middle-market private investment firm, has announced a partnership with Salus GRC, a new governance, risk and compliance (GRC) consulting firm.
The collaboration seeks to pursue opportunities in the GRC consulting space, providing tech-enabled GRC support to private fund managers and other financial services firms. Salus GRC offers a comprehensive suite of services, including regulatory registration and filing services, compliance program development and ongoing support, regulatory exam assistance, compliance training and education, and regulatory due diligence.
Charlesbank Capital Partners, based in Boston and New York, is a private investment firm that has raised over $15bn since its inception. The firm focuses on management-led buyouts, growth capital financings, opportunistic credit, and technology investments. On the other hand, Salus GRC aims to become the employer of choice in the compliance industry, attracting experienced professionals to provide the highest level of client service. The company plans to expand its services over time to include cybersecurity, ESG, regulatory technology (RegTech), and GRC support for other industry verticals.
Charlesbank Managing Director David Katz said, “We are excited to partner with Bill and team to build the Salus GRC platform. We have been evaluating the GRC market with Bill since 2021, and we have been impressed by his industry expertise and strategic vision. His track record of growing and building GRC businesses makes him ideally suited to lead Salus GRC, and he has a strong team to help him succeed.”
Before Salus GRC, CEO William Mulligan founded and led Cordium, a private equity-backed provider of GRC services. Cordium was a pioneer in using technology in GRC consulting and was acquired by ACA Group in 2018. With the support of a team of industry veterans, including President Chris Lombardy, Salus GRC is well-positioned for success.
Roger Carlile, founder and former CEO of Ankura Consulting, will join the Salus GRC board as Non-Executive Chairman. Carlile’s extensive experience founding and scaling complex professional services organizations will be an asset to the Salus GRC team. Ropes & Gray LLP provided legal counsel to Charlesbank and Salus GRC.
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