JTC, an institutional and private client service provider, has completed the acquisition of Arcange REIM in Luxembourg following approval from the Commission de Surveillance du Secteur Financier (CSSF).

Arcange REIM was one of the first Luxembourg-based independent management companies to comply with the Alternative Investment Fund Managers Directive (AIFMD).

The acquisition will enable JTC to launch a new AIFM management company (ManCo) business as it continues to enhance its range of European alternative fund services.

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

Its activities will include providing portfolio management, risk management and oversight functions and offering compliance and reporting services required under AIFMD regulation.

Commenting on the acquisition, JTC group CEO and chairman Nigel Le Quesne 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.

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“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.”

JTC opened an office in Luxembourg in 2009 to provide a European centre for funds and corporate services. In 2015, it 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.