JTC acquires alternative investment fund specialist

Tuesday 23 February 2021

JTC has acquired a specialist in depositary, Environmental, Social and Governance, and anti-money laundering, oversight services for alternative investment funds.

Founded in 2012, INDOS now has 50 staff across three offices in Ireland and the UK, and has around $35bn in client assets under depositary oversight and its AML officer clients represented around $11bn,

All employees, including INDOS founder and CEO Bill Prew and his senior management team, will join JTC, becoming part of the Institutional Client Services (ICS) Division. The transaction is subject to Financial Conduct Authority regulatory approval and is expected to complete by the end of Q1 2021. 

JTC CEO Nigel Le Quesne (pictured top) commented: “Having collaborated with Bill and the team several times, it is clear that their deep expertise, commitment to service excellence and proven ability to innovate and grow makes INDOS a great addition to the JTC platform,” JTC CEO Nigel Le Quesne commented.

“The transaction also adds further scale in Ireland, a priority market for the Group, and the UK, where our London team has more than doubled in size over the last 18 months due to client demand."

Mr Prew added: ”We share much of our cultural DNA with JTC and their focus on clients, innovation and technology mean that we are very excited about our future as part of the Group. I am also delighted that all members of the INDOS team will become shared owners of JTC.”