JTC has completed its acquisition of SALI Fund Services, in line with the initial announcement made last month.
A US-based provider of fund services to the insurance dedicated fund (IDF) and separately managed account (SMA) markets, SALI was founded in 2002 and provides a turnkey solution for the creation and administration of IDFs. Headquartered in Austin, Texas, it has more than $15.8bn of assets under management.
This latest acquisition makes the US JTC’s second largest jurisdiction by revenue.
In addition, SALI provides JTC’s Institutional Client Services division with access to a large new market – insurance – while giving the group’s Private Client Services division additional service lines and expertise to support clients.
Nigel Le Quesne, CEO of JTC, commented: “Not only does this acquisition bolster our US capabilities, but it also opens up new complementary business lines and opportunities for our ICS and PCS divisions.
"It signals our intent to continue expanding our US footprint and enhancing our global proposition for clients.”