JTC to acquire UK asset management firm

Friday 24 November 2023

Jersey-headquartered JTC has agreed to acquire boutique asset management business based in the UK.

Formed in 2010, Blackheath Capital Management provides management and regulatory oversight services to investment funds, and also offers ManCo services as an Alternative Investment Fund Manager.

The company – which is regulated by the UK Financial Conduct Authority – is being acquired from its partners, Stephane Carty and Simon Monson. On completion, Blackheath will become part of the JTC Global AIFM Solutions business within the Institutional Client Services (ICS) Division, led by Dean Blackburn.

Nigel Le Quesne, CEO of JTC, said that Blackheath "has excellent alignment with our existing fund administration and depositary businesses in the UK and Europe", adding: "We welcome Stephane, Simon and all of Blackheath's clients and partners to the JTC Group."

Stephane Carty, founder and partner of Blackheath, said " now is the right time to partner with a firm to support our future growth".

"We have known the team at JTC for several years and their strong record and expertise in AIFM, corporate governance and fund services will enable us to accelerate our growth, as well as benefit our clients through access to a wider range of expertise and complementary services."

The transaction is subject to various closing conditions and final regulatory approvals and is expected to complete during Q1 2024.