Fund administrator JTC has acquired US-based fund services business Segue Partners for an undisclosed amount.
The acquired business offers a spectrum of fun solutions to private equity, venture capital, debt funds, and family offices.
It also provides accounting services to entrepreneurs, portfolio companies and start-ups.
The deal is expected to boost JTC’s fund services presence in the US with the addition of a complementary platform.
It also brings asset class expertise to the firm, particularly within the venture capital space.
Furthermore, Segue’s Midwest location is expected to help JTC propel its expansion throughout North America.
The firm will also benefit from JTC’s relationships with a range of clients across 10 US States and Canada.
JTC CEO Nigel Le Quesne said that the acquisition is a ‘high quality addition to our strategically important and fast-growing US business’.
Segue Partners founder and managing director Michelle Murray commented: “As we seek to expand our business materially and capture opportunities that exist in the US market and beyond, JTC is the perfect partner to help us achieve our goals.
“Like Segue, JTC has the highest of standards and constantly strives to exceed client expectations. We are excited to become part of a dynamic Group, with such a deep-rooted culture and track record of success.”
Under the agreement, the Segue team will become part of JTC’s Institutional Client Services (ICS) division.
Murray will join ICS US regional management board while continuing to lead Segue.
In June this year, JTC completed its previously announced acquisition of UK-based alternative fund specialist INDOS Financial.