# Steven Millner

> Steven C. Millner is the CEO and co-founder of Gen II Fund Services, a New York-based private capital fund administrator. An accountant with a long-standing interest in technology, he co-founded DML Fund Services and DMLT, helped create the Investment Café LP reporting portal, led through DML's acquisition by BISYS, and reunited with Norman Leben to launch Gen II in 2009. Gen II now reports more than $2 trillion in assets under administration, 1,800-plus employees, 13-plus offices, and more than 300 private capital clients. Millner has also served on Bentley University's board of trustees since 2019.

- **Role:** Chief Executive Officer and Co-Founder at Gen II Fund Services
- **Organizations:** Gen II Fund Services, DML Fund Services, DMLT, Inc., BISYS Private Equity Fund Services, Bentley University, AICPA, NYSSCPA
- **Nationality:** American
- **Education:** Bachelor of Science in Accounting, Bentley University
- **Known for:** Co-founded DML Fund Services, which BISYS acquired in 2002., Co-founded DMLT, creator of the Investment Café private equity LP reporting portal later acquired by eFront., Co-founded Gen II Fund Services in 2009 and leads it as CEO.

## Career timeline

- **1983** — Graduated from Bentley University with a Bachelor of Science in Accounting.
- **1990s** — Entered private equity administration as the asset class was becoming institutional; co-founded DML Fund Services and DMLT, Inc.
- **2002** — DML Fund Services was acquired by BISYS; Millner became a managing director in the resulting business.
- **2007** — BISYS was acquired by Citigroup.
- **2009** — Co-founded Gen II Fund Services with Norman Leben; Steven Alecia joined the founding leadership team.
- **2019** — Appointed to the Bentley University Board of Trustees.
- **2022** — Gen II acquired Update Capital, extending its investor portal technology.
- **2023** — Gen II crossed $1 trillion in committed private capital under administration and announced the Crestbridge acquisition.
- **2024** — Gen II closed the Crestbridge acquisition, expanded from eight to 13 offices, grew headcount from 1,100 to 1,700, and launched Sensr DataBridge and Funded.
- **2026** — Gen II announced that it had surpassed $1.5 trillion in private capital assets under administration; its current website reports $2 trillion-plus.

## Achievements

- Co-founded DML Fund Services, which BISYS acquired in 2002.
- Co-founded DMLT, creator of the Investment Café private equity LP reporting portal later acquired by eFront.
- Co-founded Gen II Fund Services in 2009 and leads it as CEO.
- Helped grow Gen II into a transatlantic private capital administrator whose current website reports more than $2 trillion in assets under administration, 1,800-plus employees, 13-plus offices and more than 300 clients.
- Appointed to Bentley University's Board of Trustees in 2019.
- Together with Beth Millner, supported Bentley's technology, innovation and entrepreneurship initiative and its Hillel programming.
- Certified public accountant (inactive) and member of the AICPA and NYSSCPA.

## Latest updates

- **2026-02** — Gen II announced it had surpassed $1.5 trillion in private capital assets under administration, less than three years after reaching $1 trillion.
- **2025-07** — Millner appeared in an ION Analytics fireside chat about private equity's expansion, bespoke structures, emerging managers, family offices, data and AI.
- **2025-03** — Gen II summarized 2024 growth that included the Crestbridge closing, five additional offices, headcount growth from 1,100 to 1,700, and new digital products.
- **2024-12** — Millner discussed Gen II's strategy, acquisitions, leadership investment and 2025 outlook on the In Conversation with Convergence podcast.
- **2024-11** — Millner attended the opening of Gen II's expanded Southampton office, which was designed for up to 300 staff.

## Links

- Website: https://gen2fund.com
- LinkedIn: https://www.linkedin.com/in/steven-millner-7698951a

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Profile page: https://yespress.io/steven-millner
Published by YesPress — https://yespress.io
Last updated: 2026-08-26