JTC Acquisition Heralds Launch of Independent Luxembourg AIFM Management Company

Independent institutional and private client service provider JTC has acquired Arcange REIM in Luxembourg, enabling it to launch a new AIFM management company (ManCo) business as it continues to enhance its range of European alternative fund services.

The acquisition of Arcange REIM, which was one of the first Luxembourgish/Luxembourg based independent management companies to comply with the Alternative Investment Fund Managers Directive (AIFMD), was completed on 6th July following approval from the Commission de Surveillance du Secteur Financier (CSSF).

The new ManCo formed, following the acquisition, is called Global AIFM Solutions S.A. A wholly owned subsidiary of JTC, Global AIFM Solutions will offer a fully AIFMD-compliant ManCo service through Luxembourg to both EU and non-EU third-party alternative investment funds (AIFs).

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.”

JTC opened an office in Luxembourg in 2009 to provide a European centre for funds and corporate services. In 2015, JTC significantly increased its offering in Luxembourg through the acquisition of a Luxembourg-based ‘Expert Comptable’ business that provides accounting, administration and tax compliance services to institutional investors to create JTC Signes, which operates as a sister company to JTC’s Luxembourg operation.