Schellman Announces Strategic Partnership with Goldman Sachs Alternatives
MWN-AI** Summary
Schellman, a leader in cybersecurity compliance and attestation services, has announced a strategic partnership with Goldman Sachs Alternatives, marking a significant investment that aims to accelerate the firm’s growth trajectory. This partnership aligns Schellman with an investor that shares its long-term vision and respect for its culture, which has contributed to its reputation in the industry. Lightyear Capital, which has been a majority investor since 2021, will transition to a minority role moving forward.
With over two decades of experience, Schellman has established itself as a trusted provider of expert-led assessments for leading global organizations. The partnership with Goldman Sachs Alternatives is expected to amplify Schellman’s capabilities, particularly in high-demand areas such as AI governance, federal compliance, and digital trust, amidst growing regulatory complexity and cybersecurity needs.
Avani Desai, Schellman's CEO, expressed enthusiasm for the partnership, highlighting Goldman Sachs' understanding of the company’s vision and the importance of maintaining its integrity and quality during growth. Harsh Nanda, Goldman Sachs Alternatives' Partner, emphasized the firm’s commitment to sustaining value creation alongside Schellman, which he deems a leader in delivering attestation and compliance services.
Lightyear Capital, which identified Schellman as a prime investment opportunity due to its strong leadership and market position, reiterated its confidence in the company’s continued success in the following years. The transaction, pending regulatory approvals, is expected to close in Q2 2026, with financial terms undisclosed. Schellman’s leadership team will remain intact, ensuring continuity in client relationships and service delivery.
MWN-AI** Analysis
The recent announcement of Schellman’s strategic partnership with Goldman Sachs Alternatives represents a pivotal moment for the cybersecurity compliance leader. With Goldman Sachs' backing, Schellman is poised for significant growth in an expanding market driven by increasing regulatory demands and evolving cybersecurity threats.
Investors should take note of several key points from this partnership. First, the involvement of an established entity like Goldman Sachs, which boasts extensive experience in enhancing growth-oriented businesses, signals confidence in Schellman’s unique business model and operational capabilities. This partnership not only strengthens Schellman’s financial position but also enhances its credibility in a competitive landscape highlighted by rising complexities in regulations and compliance requirements—particularly in areas such as AI governance and federal compliance.
Second, the strategic investment will likely facilitate the scaling of Schellman’s capabilities, allowing it to penetrate new markets and better serve existing clients. The firm’s strong track record and significant client relationships suggest it has a solid foundation to leverage this new capital effectively. The capability to expand geographically into markets with high demand for cybersecurity services can lead to increased revenue streams and market share.
Investors should consider the implications of regulatory shifts, the growing importance of digital trust, and the demand for independent assessments in their market strategies. With cybersecurity increasingly becoming a priority for organizations, companies like Schellman are well-positioned to capitalize on this trend.
In summary, Schellman's alliance with Goldman Sachs Alternatives marks an opportunity for growth and value creation. Stakeholders should view this development as a positive indicator for Schellman’s future performance, reinforcing its position in a high-demand market. Investing in cybersecurity compliance players appears timely, given the relentless rise in regulatory and security challenges faced by organizations globally.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
TAMPA, Fla., March 05, 2026 (GLOBE NEWSWIRE) -- Schellman, a global leader in cybersecurity compliance and attestation services, today announced a strategic investment from Private Equity at Goldman Sachs Alternatives. The partnership marks a significant milestone for the firm and reflects alignment with an investor who shares Schellman’s long-term vision and deep respect for the culture, people, and operating model that have made it one of the most trusted names in independent cybersecurity compliance. Lightyear Capital has been the majority investor in Schellman since 2021 and will continue to be a minority investor in the company going forward.
For more than 20 years, Schellman has earned the confidence of leading global organizations by delivering independent, expert-led assessments that clients and their customers trust. Goldman Sachs Alternatives’ investment underscores strong conviction in Schellman’s differentiated model and the substantial opportunity ahead as regulatory complexity, AI governance, and cybersecurity demands continue to accelerate worldwide.
The investment will accelerate Schellman's next phase of growth, expanding the firm's capabilities, scaling its team and enabling Schellman to serve clients across more markets and geographies, with a particular focus on high-demand areas including AI governance, federal compliance, and digital trust.
“We are incredibly excited to partner with Goldman Sachs Alternatives,” said Avani Desai, chief executive officer of Schellman. “From the outset, it was clear they understand our vision, our culture, and the opportunity ahead of us. Their global platform and long-term perspective will help us continue scaling thoughtfully while maintaining the quality and integrity that define Schellman. We are also deeply grateful to Lightyear Capital for their partnership over the past four years. Their support and belief in our team helped position us for this next chapter.”
Private Equity at Goldman Sachs Alternatives brings deep experience partnering with growth-oriented professional services businesses. Cultural alignment and a shared focus on sustainable value creation were central to the partnership.
“Schellman has built a category-leading, differentiated platform offering attestation and compliance services,” said Harsh Nanda, Partner and Head of Technology Private Equity at Goldman Sachs Alternatives. “The firm’s technical leadership, focus on quality, and long-term client relationships position Schellman well to capture growing global demand for its services. We are confident that Goldman Sachs Alternatives will be a value-add partner to Schellman and are excited to work alongside Avani and her team to grow the business while staying true to the values that have driven its success.”
“Schellman is a prime example of Lightyear’s approach to thematic sourcing and partnering with talented management teams to support them with deep expertise and value-added resources,” stated Mark Vassallo, Managing Partner of Lightyear. “Their leadership, culture, and commitment to quality are exceptional, and we are confident that Schellman is well positioned for continued success in its next chapter.”
“Lightyear proactively identified Schellman as a strong investment opportunity as it operates in a terrific growth market, has leading blue chip clients and high NPS scores, and is run by a superb leadership team,” said Jay Comerford, Partner at Lightyear. “It has been a pleasure to work alongside Avani and the Schellman team. We are proud of what we have accomplished together to transform the business and are excited to continue to invest alongside the management team and Goldman Sachs Alternatives during the next phase of growth.”
Schellman’s leadership team will remain in place, and client relationships and service delivery will continue uninterrupted. The transaction is expected to close in Q2 2026, subject to customary regulatory approvals. Financial terms were not disclosed.
Baird served as the exclusive financial advisor to Schellman. Davis Polk acted as counsel to Lightyear and Reed Smith acted as counsel to management.
Morgan Stanley & Co. LLC served as financial advisor, and Weil, Gotshal & Manges served as legal counsel to Goldman Sachs Alternatives.
About Schellman
Schellman is a leading global provider of attestation and compliance services, enabling enterprises to build trust, meet regulatory demands, and scale with confidence. By combining technical depth, worldwide reach, and operational discipline, Schellman delivers industry-recognized assessments — including SOC, ISO, FedRAMP, PCI, HITRUST, CMMC, and AI governance — that help the world's most demanding organizations satisfy customers and unlock growth. A top 50 CPA firm and the world's first ANAB-accredited ISO 42001 certification body, Schellman serves leading enterprises and the technology ecosystem that supports them. For more information, visit schellman.com.
About Private Equity at Goldman Sachs Alternatives
Goldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally, with over $625 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives including private equity, growth equity, private credit, real estate, infrastructure, sustainability, and hedge funds. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs.
The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets.
The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world’s leading institutions, financial advisors and individuals. Goldman Sachs has approximately $3.6 trillion in assets under supervision globally as of December 31, 2025.
Established in 1986, Private Equity at Goldman Sachs Alternatives has invested over $75 billion since inception. The business combines a global network of relationships, unique insight across markets, industries and regions, and the worldwide resources of Goldman Sachs to build businesses and accelerate value creation across its portfolios.
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About Lightyear Capital
Lightyear Capital is a New York-based private equity firm that partners with growing companies at the nexus of financial services and technology, health care and business services. For over 25 years, Lightyear has worked closely with management and leveraged its industry expertise, network of advisors and operating resources to accelerate growth and build market-leading businesses. As of December 31, 2025, the firm had assets under management of $8.1 billion. For more information, please visit www.lycap.com.
Media Contact:
Schellman
V2 Communications
schellman@v2comms.com
Goldman Sachs
Victoria Zarella
victoria.zarella@gs.com
Lightyear Capital
Elliot Sloane
ThroughCo Communications
esloane@throughco.com
FAQ**
How does the partnership with Goldman Sachs Group Inc. GS enhance Schellman's competitive positioning in the rapidly evolving cybersecurity compliance landscape?
What specific growth strategies does Schellman plan to implement with the investment from Goldman Sachs Group Inc. GS to address regulatory complexities and AI governance demands?
In what ways does the strategic investment from Goldman Sachs Group Inc. GS align with Schellman's long-term vision and organizational culture?
Can you explain how the support from Goldman Sachs Group Inc. GS will help Schellman expand its market reach and operational capabilities while maintaining service quality?
**MWN-AI FAQ is based on asking OpenAI questions about Goldman Sachs Group Inc. (NYSE: GS).
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