JTC acquires US-based fund services provider SALI Fund Services

The acquisition is the latest by JTC following purchase of NES Financial in 2020 and Segue Partners earlier this year.

By Wesley Bray

JTC has acquired Austin-headquartered fund services provider SALI Fund Services, its latest move to expand its presence in the US.

SALI, which was founded in 2002, provides a turn-key solution for the creation and administration of insurance dedicated funds (IDFs) and has over $15.8 billion of assets under management (AuM).

The acquisition of SALI follows recent moves by JTC to strengthen its presence in the US. This includes the recent acquisitions of NES Financial in 2020 and Segue Partners earlier this year, which have significantly strengthened JTC’s scale and capabilities in a key growth market.

As a result of the acquisition of SALI, the US has become JTC’s second largest jurisdiction, with over $35 million in revenues.

Through the acquisition, SALI will provide access to a large new market to JTC’s Institutional Client Services division, as well as insurance, where there will be incremental opportunities in the medium to long term.

In addition, SALI will provide JTC’s Private Client Services with extra service lines and expertise to support existing clients.

“[SALI’s] operations are highly complementary to our existing US footprint and their deep expertise will be a fantastic addition to our Group capabilities set,” said Nigel Le Quesne, chief executive of JTC.

“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.”

The acquisition of SALI by JTC is expected to close before the end of this year, subject to the satisfaction of customary closing conditions.

“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,” said Thomas Nieman, chief executive of SALI Fund Services.

“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.”