JTC sets up shop in the Netherlands

The fund administrator has acquired a local peer as part of its global expansion

JTC Group, a fund administrator, will open in the Netherlands after its acquisition of local service provider New Amsterdam Cititrust.

The current NACT management team and staff will join JTC on completion of the deal, which remains subject to regulatory approval and is expected in mid-2017.

NACT, founded in 1981, provides corporate and administration services to private equity and venture capital firms among others.

“The Netherlands has always been an important jurisdiction for cross-border structuring solutions and in the past we have worked with partners in the region to facilitate solutions for our clients,” a spokesman for JTC told pfm.

The acquisition is part of JTC’s global expansion. It made senior appointments in its London and Luxembourg offices in February. This followed the launch last year of its JTC Global AIFM ManCo in Luxembourg and a UK-based depository service for alternative funds.