Schellman, a provider of cybersecurity compliance and attestation services, has 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.
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