This transaction marks the third add on acquisition in RiskConcile’s international buy and build strategy since partnering with Main Capital Partners in June 2024.
Founded in 2014, SOF combines deep regulatory expertise with proprietary software tooling to deliver high-value, recurring reports across frameworks including Solvency II, CRR 3/Pillar 2, VAG/AnlV, and SFDR/CSRD/ESRS/EU Taxonomy. The company serves GPs, LPs, and their service providers in the alternative asset space, providing them with compliant regulatory reports through a highly automated and scalable workflow. SOF employs a team of 13 professionals and serves an international client base of more than 140 institutional customers.
The acquisition enables RiskConcile to further expand its reporting capabilities for illiquid asset classes, including dedicated solutions for LP reporting in alternative investments. Combined with RiskConcile’s established regulatory reporting solutions for liquid funds, the group will offer a comprehensive cross-asset reporting suite for asset managers, institutional investors, and fund service providers. Following the acquisition of Fitz Partners in September 2025, this transaction further strengthens RiskConcile’s presence in the UK through SOF’s London-based team while adding a long-standing client base primarily in the DACH region. Together with prior acquisitions, the group is now strongly positioned across Europe’s core fund markets.
Together with RiskConcile’s Belgian roots, B4Finance’s team in Paris, and the combined Fitz Partners and SOF teams in London, the group is well positioned to continue executing its buy-and-build strategy and deliver integrated regulatory and compliance solutions to its clients.”
Jorn de Ruijter, Partner at Main and Chairman of the Board of Directors at RiskConcile: “The acquisition of SOF is a strong strategic step in our ambition to build a pan-European regulatory technology group. It reinforces RiskConcile’s presence in London and the DACH region, both key growth markets, and further expands the group’s capabilities in alternative assets reporting. Together with RiskConcile’s Belgian roots, B4Finance’s team in Paris, and the combined Fitz Partners and SOF teams in London, the group is well positioned to continue executing its buy-and-build strategy and deliver integrated regulatory and compliance solutions to its clients.”
Jan De Spiegeleer, Co‑Founder & Co-CEO of RiskConcile: “We are pleased to welcome Jegor and the SOF team to RiskConcile. Their deep regulatory expertise and strong capabilities in illiquid markets are highly complementary to our platform. Together, we can deliver a broader regulatory reporting offering across both liquid and illiquid asset classes, further strengthen our presence in the UK, and expand our reach in key European markets such as France and Germany. This combination supports our ambition to build a leading pan-European provider of regulatory and reporting solutions for the asset management industry.”
Jegor Tokarevich, Founder & CEO of SOF and new Co-CEO of RiskConcile: “Joining RiskConcile is a natural next step for SOF. We have built a scalable reporting services provider grounded in regulatory expertise and thought leadership. As part of RiskConcile, we can further enhance our service offering for GPs, LPs, and service providers in illiquid markets, broaden our LP reporting capabilities and accelerate innovation, while continuing to deliver the high-quality outcomes our clients rely on. I look forward to working alongside Jan as co-CEO to lead RiskConcile into its next phase of growth.”
Founded in 2014, SOF (Substance over Form) is a London‑based RegTech provider delivering tech‑enabled, recurring regulatory reporting and compliance services to regulated financial institutions and alternative investment managers. SOF serves a client base of over 140 institutional customers, including GPs, LPs, service providers active in the alternative asset space. Through its highly automated, scalable reporting services, SOF provides clients with compliant regulatory reports with accuracy, speed and efficiency. The company operates from its headquarters in London and has a commercial presence in Germany, the UK, and the US.
Founded in 2015, RiskConcile is a Belgian software developer of cloud-based regulatory reporting, risk calculation, investor onboarding and fund data solutions that support asset managers, fund managers, and fund service providers in managing their clients’ risk and meeting regulatory requirements. The company offers proprietary software tools and data for regulatory disclosures and reports, complex transaction calculations, investor onboarding and portfolio and risk management functionalities. Its areas of expertise include PRIIPs, TCA, AIFMD Annex IV, Liquidity Stress Testing, Solvency, KYC/AML and SFDR. The company serves a diverse client base across the Benelux, UK & Ireland, France, and the Nordics.
Nothing contained in this Press Release is intended to project, predict, guarantee, or forecast the future performance of any investment. This Press Release is for information purposes only and is not investment advice or an offer to buy or sell any securities or to invest in any funds or other investment vehicles managed by Main Capital Partners or any other person.
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