NEW YORK & DUBLIN--(BUSINESS WIRE)--Mar 12, 2026--
Alchelyst and Lyra Client Solutions today announced the completion of their merger. The combined company, backed by Motive Partners and anchor client Apollo (NYSE: APO), is focused on supporting the continued evolution of private markets infrastructure. The combined organization will be led by Joan Kehoe, Founder and Chief Executive Officer of Alchelyst, and will operate under the Alchelyst name. The company also unveiled a refreshed brand identity reflecting its strategic vision to be at the forefront of transforming the investor experience across global private markets.
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Private markets continue to evolve, marked by broader distribution, accelerated product innovation, and rapid expansion into global wealth channels. “Alchelyst is purpose-built for this moment,” said Kehoe. “The combined firm brings together premium General Partner Client Solutions, full-service fund administration, and proprietary next-generation technology within a unified infrastructure platform – setting a new standard for how private markets are serviced across institutional and wealth channels.”
The growth of private markets has reshaped the investment landscape. What was once largely institutional has been expanding into private wealth and global distribution networks with accelerating speed. General Partners (GPs) are increasingly evaluated not only on performance, but also on their ability to deliver enterprise-grade infrastructure, seamless investor experiences, real-time transparency across portfolios, and scalable operations across geographies and channels.
“Alternative asset managers have increasingly sought more integrated offerings enabled by next-generation technology as private markets have evolved beyond traditional servicing frameworks,” Kehoe added. “Legacy models – built around siloed providers and disconnected systems – are no longer sufficient in today’s environment. Managers require integrated infrastructure that moves at the speed of capital, supports the sophistication of modern investors, and scales seamlessly. Alchelyst’s platform and solutions are designed to power this next phase.”
About Alchelyst
Alchelyst is an integrated client solutions and infrastructure partner for private markets asset managers. Purpose-built for the expanding demands and sophistication of global private markets, the company’s end-to-end platform turns operational complexity into the seamless architecture of growth, giving GPs the freedom to lead, invest, and scale with confidence. Grounded in industry expertise and exceptional people, Alchelyst offers two core solutions (GP Client Solutions and Fund Administration) – powered by proprietary next-gen technology, built to scale. With offices in the US, Ireland, UK, Luxembourg, and India, Alchelyst is defining the new standard for private markets servicing at scale, becoming partner of choice though trusted expertise, exceptional people, and technology-enabled excellence.
More information can be found at www.alchelyst.com
Alchelyst executive team (L–R): Kaci Twist Openshaw, Ian Lynch, Joan Kehoe and John Franscioni.
The price of Brent crude oil, the international standard, spiked back over $100 as Iranian strikes hit ships in the regions waters and the ongoing American-Israeli war with Iran showed so signs of slowing.
Thursday’s major developments include Iranian attacks against commercial ships around the Strait of Hormuz and Iraq's port of Basra, escalating a campaign of squeezing the oil-rich Gulf region as global energy concerns mount. The U.S. campaign of airstrikes in Iran is now in its 13th day.
The Israeli military is also striking Iran and its militant ally Hezbollah in Lebanon, where more than 800,000 people have been displaced by the fighting.
Here's the latest:
Israel’s military said it was working to intercept a missile launch from Iran early on Thursday morning.
It was the third such announcement Thursday, as Israel also said it was targeting Tehran with strikes.
Other overnight missile launches from Iran sent Israelis hurrying to shelters in areas from the very southern tip of the country, to Jerusalem and Tel Aviv, to the Galilee and the northern border with Lebanon, where sirens were also sounded to warn of drone and rocket attacks from Hezbollah.
Kuwait’s Defense Ministry said an Iranian drone smashed into a residential building Thursday in the small Mideast nation, wounding two people.
A container ship off Dubai in the Persian Gulf came under attack Thursday, sparking a small fire, the British military said.
The British military’s United Kingdom Maritime Trade Operations center said the attack happened just before dawn. It said an “unknown projectile” hit the vessel as it was some 65 kilometers (40 miles) off the coast of Dubai’s Jebel Ali port.
It added that the crew of the vessel were safe.
The price of a barrel of Brent crude oil, the international standard, topped $100 a barrel early Thursday, just days after it spiked near $120.
Oil prices shot more than 9% higher as supply concerns worsened with Iranian attacks on commercial shipping around the Strait of Hormuz.
U.S. benchmark crude oil jumped to about $95 a barrel.
Read more here.
An attack on Iraq’s Basra port early Thursday killed at least one person and forced authorities to halt operations at all the country’s oil terminals, officials said.
Farhan al-Fartousi, the director-general of the General Company for Ports of Iraq, made the announcement in a statement carried by the state-run Iraqi News Agency on Thursday. Al-Fartousi said the attack targeted ships in the ship-to-ship transfer are of the Basra port on the Persian Gulf. He said it remained unclear if the ship was targeted by a flying or seaborne drone or a missile.
Rescuers recovered one dead body and helped 38 others after the attack. He said commercial ports in Iraq remained open, though the oil terminals had been shut.
Iraq’s State Oil Marketing Organization has identified the two tankers as the Safesea Vishnu, flagged in the Marshall Islands, and the tanker Zefyros, flagged in Malta.
FILE - People gather in a rally to support Ayatollah Mojtaba Khamenei, the successor to his late father Ayatollah Ali Khamenei as supreme leader, in Tehran, Iran, March 9, 2026. (AP Photo/Vahid Salemi, File)
A mourner holds a poster depicting Ayatollah Mojtaba Khamenei, right, the successor to his late father Ayatollah Ali Khamenei, left, as supreme leader, during the funeral procession for senior Iranian military officials and civilians killed during the U.S.-Israel campaign in Tehran, Iran, Wednesday, March 11, 2026. (AP Photo/Vahid Salemi)
A French military plane carrying humanitarian aid to Lebanon is seen through buildings in Dahiyeh, Beirut's southern suburbs, landing at Rafik Hariri International Airport, Thursday, March 12, 2026. (AP Photo/Hussein Malla)
A shepherd walks by as smoke rises into the sky from a nearby airbase following attacks early Thursday in Harir, Iraq, March 12, 2026. (AP Photo/Leo Correa)
An oil tanker burns after being hit by an Iranian strike in the ship-to-ship transfer zone at Khor al-Zubair port near Basra, Iraq, late Wednesday, March 11, 2026. (AP Photo)
A woman gathers belongings from her family's home after it was damaged by a projectile launched from Lebanon, in Haniel, central Israel, Thursday, March 12, 2026. (AP Photo/Baz Ratner)
Oil tankers and cargo ships line up in the Strait of Hormuz as seen from Khor Fakkan, United Arab Emirates, Wednesday, March 11, 2026. (AP Photo/Altaf Qadri)
Smoke and flames rise from buildings following an Israeli airstrike in Dahiyeh, Beirut's southern suburbs, Lebanon, Wednesday, March 11, 2026. (AP Photo/Bilal Hussein)
A person fills their vehicle at a gas station in Tallinn, Estonia, Wednesday, March 11, 2026. (AP Photo/Sergei Grits)
People take cover in an underground bomb shelter as air raid sirens warn of incoming Iranian missile strike, in Ramat Gan, Israel, Wednesday, March 11, 2026. (AP Photo/Oded Balilty)
A man, left, carries the body of his son, Kassem Younis, who was killed in an Israeli airstrike, during his funeral procession in the southern village of Chehabiyeh, Lebanon, Wednesday, March 11, 2026. (AP Photo/Mohammed Zaatari)
This image released by the Royal Thai Navy shows Thai cargo ship, Mayuree Naree, that was struck and set ablaze in the Strait of Hormuz Wednesday, March 11, 2026. (Royal Thai Navy via AP)
Mourners attend the funeral procession for senior Iranian military officials and some civilians killed during the U.S.-Israel campaign, in Tehran, Iran, Wednesday, March 11, 2026. (AP Photo/Vahid Salemi)
Flames rise from an Israeli airstrike in Dahiyeh, Beirut's southern suburbs, Wednesday, March 11, 2026. (AP Photo/Hassan Ammar)
