Asset management fund services news

JTC, the global professional services company, has acquired SALI Fund Services, a US provider of funds services for the insurance dedicated funds (IDF) and separately managed accounts (SMA) market.

Based in Austin, Texas, SALI provides a solution for the creation and administration of IDFs, which are investment vehicles that enable alternative investment managers to provide institutions, family offices and high net worth individuals with a tax-advantaged vehicle.

This allows them to invest the long-term capital allocated by life insurance policies in alternative assets. Due to the nature of IDFs, client relationships are long term, with a fund life of several decades, which provides high visibility into recurring revenue.

The SALI acquisition advances JTC’s strategic objective of strengthening its presence in the United States.

Combined with recent acquisitions of NES Financial and Segue partners, the acquisitions have strengthened the size and capacities of the group in a key growth market.

In addition, SALI provides JTC’s Institutional Client Services (ICS) division with access to the insurance market, where there will be medium and long term opportunities.

JTC explains that the acquisition also means that its Private Customer Services (PCS) will have additional service lines and expertise to support existing customers.

Nigel Le Quesne, CEO of JTC, comments: “SALI is a company of exceptional quality and a clear leader in the growing IDF market. Their operations are very complementary to our existing US footprint and their in-depth expertise will be a fantastic addition to our group’s overall capabilities. “

Thomas Nieman, CEO of SALI Fund Services, said: “SALI could not be more excited to join the JTC family, whose decades-long customer relationship history strongly aligns with the mission and values fundamentals of SALI.

The acquisition is expected to be finalized before the end of 2021, subject to the satisfaction of customary closing conditions.

Michael J. Birnbaum

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