Sanne to acquire Dallas-based fund administrator

Fast-growing fund administrator adds $20 billion in assets through acquisition.

By Jonathan Watkins

Sanne has entered into an agreement to acquire STRAIT, a Dallasbased fund solutions provider for alternative investment firms. 

Founded in 2006, STRAIT specialises in providing fund administration, financial oversight and regulatory compliance services for private equity funds, hedge funds, family offices, fund of funds, SPVs and other investment vehicles.

The business is headquartered in Dallas, Texas, servicing $20 billion of assets under administration.

The deal will further expand Sanne’s US footprint into the world’s largest alternatives market, establishing a central presence in the US, adding to Sanne’s New York and San Diego offices.

Our aim is to be the best in the industry which means building a leading US business, both organically and through strategic acquisitions,” said Martin Schnaier, chief executive officer at Sanne.

STRAIT has an impressive track record of growth, a strong management team and the same focus on high quality client service to the alternative investment industry. We look forward to working alongside them to contribute to the continued success of our combined teams over the years to come.”

The agreements comes just a few months after Sanne entered into an agreement to acquire Scandinavian fund services provider Private Equity Administrators (PEA), adding a further €27 billion in assets to its ranks.

Following a period of growth in recent years, Sanne has taken its funds under administration to around $327 billion, not including PEA or STRAIT. The mix of organic growth and acquisitions have been coupled with some high-profile hires as the fund administrator looks to aggressively expand. 

Joining a sophisticated global team of Sanne’s reputation and expertise is a testament to the professionalism we have built into our business and the amazing talent of our people, said John Reltonfounder and chief executive officer at STRAIT. 

The acquisition will allow us to provide our clients a global offering including complementarservices and best-in-class technology and at the same time, offer our people opportunities for career development and continual learning. We look forward to working alongside Sanne to deliver exceptional global, institutional-quality services to alternative investment firms and investors that will facilitate their growth and success.