Brio Platform, a developer of fund and LP operations software, and Losange Finance, a fund administration and accounting specialist, have agreed to merge, with the combined business now trading as Stellé, a fund operations partner for private capital managers.
The deal unites two well-known Canadian fund operations players. Losange has been providing fund administration and accounting to alternative asset managers since 2019. Brio’s platform has been refined over nine years of live fund operations and now supports over 100 funds and 3,000 LPs. Stellé will retain the clients, staff and track records of both firms. Financial terms of the merger were not made public.
Stellé will serve venture capital, private equity, real estate and multi-family office managers, including those running complex arrangements such as SPV programmes, parallel funds and evergreen vehicles. According to the company, private capital managers have historically faced a choice between outsourcing fund administration or running software in-house. Stellé aims to offer both through a single centralised offering covering a fund’s full lifecycle.
Under the new model, Losange’s accountants and operations specialists will carry out fund administration, fund accounting, capital calls, distributions and investor reporting using the Brio platform. The technology, originally designed for GPs managing their own operations, will now also support fully outsourced funds and expand further into fund and GP accounting. Managers can choose which tasks to keep in-house and which to delegate to Stellé’s team. Either way, the GP, its LPs and Stellé work from one shared system and dataset, which the firm says removes fragmentation, offers full visibility throughout a quarter, provides a single reconciled fund record, speeds up turnaround with fewer errors and delivers a branded experience for LPs.
The platform is designed so AI models and human experts collaborate. As Stellé maintains the fund record itself, its technology draws on complete, reconciled data, while specialists check outputs before they are shared with LPs. Longer term, Stellé intends to become an end-to-end partner for private capital managers, offering independently audited controls and accountable specialists to firms reporting to institutional LPs and facing annual audits.
Stellé CEO Audrey Ostiguy said, “AI is changing the private capital industry and the way fund operations work gets done, and that raises the bar for the partners firms trust with their funds.
“Managers need a partner they can rely on from both a technology and a human perspective: a platform built on complete, reliable data, and experienced specialists who review the work and are accountable for it. Stellé brings both together, and we intend to be a long-term partner to the firms we serve as they move into this new era of private capital.”
Stellé president Claude Olivier Girard said, ”Our clients are audited every year, and their LPs expect every number to be right. They trust us with their fund administration because our team gets the details right, takes responsibility for the work, and understands the complexities behind it.
“Delivering that expertise on the Brio platform means we can do it more efficiently while giving clients greater visibility into their fund operations between reporting periods. With Stellé, we’re keeping the expertise and relationships that clients value while giving more fund managers access to the responsiveness, visibility, and control they increasingly expect.”
Copyright © 2026 FinTech Global
