Sanne Group has entered into an agreement to acquire STRAIT, a US fund solutions company for alternative investment firms.
Founded by John Relton in 2006, STRAIT specialises in providing fund administration, financial oversight and regulatory compliance services for private equity funds, hedge funds, family offices, fund of funds, SPVs and other investment vehicles.
The business is headquartered in Dallas, Texas, with more than 50 staff servicing $20bn of assets under administration.
Sanne says the acquisition will expand its US footprint into the world’s largest alternatives market. It will also help the firm to establish a central presence in the US, adding to Sanne’s New York and San Diego offices.