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JTC – a multijurisdictional, independent provider of institutional and private client services – has acquired Arcange REIM, which is one of the first Luxembourg-based independent management companies to comply with the Alternative Investment Fund Managers Directive (AIFMD).
The acquisition was completed on 6th July following approval from the Commission de Surveillance du Secteur Financier (CSSF).
JTC says the acquisition has enabled it to launch a new AIFM management company – ManCo – called Global AIFM Solutions SA.
The activities of Global AIFM Solutions will include providing a portfolio management, risk management and oversight functions and offering compliance and reporting services required under AIFMD regulation.
Nigel Le Quesne, Group CEO and Chairman, JTC, said: “JTC is committed to providing fund managers with a comprehensive, flexible and truly global service, and this acquisition of Arcange REIM is further evidence of that. It consolidates JTC’s position as a recognised leader in fund services and, following our partnership with Indos earlier this year to provide independent depositary services, extends our AIFMD capabilities within the European alternative funds market.”
Vincent Goy, Chairman, JTC Signes, added: “For EU and non-EU managers of alternative investment funds distributing to EU professional investors, selecting the most appropriate gateway to Europe is absolutely key. As the largest fund domicile in Europe and a global leader in cross-border fund distribution, Luxembourg is a highly attractive solution and we fully expect the demand for a high quality ManCo service in the jurisdiction to continue to grow. This acquisition builds on JTC’s well-established fund servicing business in Luxembourg and underlines the emphasis it places on its Luxembourg operation.”
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