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JTC acquires SALI fund services

JTC acquires SALI fund services

Thursday 14 October 2021

JTC acquires SALI fund services

Thursday 14 October 2021

JTC has announced the acquisition of US-based SALI Fund Services.

Founded in 2002, SALI operates in the Insurance Dedicated Fund (IDF) and Separately Managed Account (SMA) markets and has over $15.8bn of Assets under Management.

The business is headquartered in Austin, Texas.

JTC says the acquisition of SALI advances its strategic objective of strengthening its presence in the US. Following the acquisition of SALI, the US becomes JTC’s second largest jurisdiction, with over $35m in revenues.

Nigel Le Quesne, CEO of JTC, said: “SALI is a business of exceptional quality and a clear leader in the growing IDF market. Their operations are highly complementary to our existing US footprint and their deep expertise will be a fantastic addition to our Group capabilities set. As always, cultural alignment is vitally important to us and like JTC, they are committed to developing successful long-term relationships that span decades. We are excited to welcome the SALI team, their clients and partners to the JTC family.”

Thomas Nieman, CEO of SALI Fund Services, added: “SALI couldn’t be more excited to join the JTC family, whose history of cultivating client relationships over multiple decades aligns strongly with SALI’s core mission and values.  SALI’s customers include many of the largest and most innovative insurance companies and alternative investment managers around the globe.  We look forward to continuing to enhance our service offering for these clients through JTC’s global reach and commitment to customer service.”

The expansion was supported by HSBC Channel Islands, which provided banking and lending facilities.

The Bank's Head of Commercial Banking, Aline Ayotte, commented: “This transaction involved close collaboration across our Commercial and Global Banking teams, bringing together a range of specialist lending and M&A expertise both from our colleagues in Jersey and across our global network.

"It was a pleasure to be able to support an important locally-headquartered business in JTC in pursuing its exciting international expansion strategy.”

Pictured top: Thomas Nieman, CEO of SALI Fund Services

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